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jpbrown1023
Nov 29, 2018 8:12 AM

OMG - A long-term look at OMG 

OmiseGo / BitcoinBitfinex

Description

A long-term possibility for OMG. The daily MACD is starting to curve at support and is coming to the end of its pennant pattern. A break to the upside would also be a break above the zero line, both bullish indicators. This could give us the potential to make an inverse head and shoulders pattern if the price could hit the neckline. Now, clearly this is all speculative trying to predict the price action for the next year and Bitcoin will certainly play a big role in OMG's performance, but I think a breakout beyond the triangles would be very bullish and could push the price up to the neckline. If it takes more time as indicated by the red arrow, the IHS could still be valid.
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