About to break lower aggressively. Big downside potential.

OMGUSD is now trading below the previous 3.2309 1D Support and a recurring pattern is seen on 1D that typically leads to a new Channel Down. Both 4H (RSI = 34.346, MACD = -0.063, Highs/Lows = -0.0720, B/BP = -0.1109) and 1D (RSI = 36.903, MACD = -0.273, Highs/Lows = -0.1659, B/BP = -0.5409) are actively bearish and we are aiming at an aggressive decline on OmiseGo towards a new Lower Low on 1W (early estimates put it around 0.300). Out short TP remains more moderate at 1.4942.

Comment:

The Lower Low was drawn by mistake at -0.300 instead of 0.300. Please accept our apologies for any inconvenience caused.