OMG USD trendlines, recalc fib retrace, new resist and buy zones
I WRITE SHORT, because this is looking at immediate future. This overall analysis (longer term) is LONG. This is a very bullish coin. These are estimates with trendlines for new resistance zones, and potential buy ins if not already invested.
Still consolidating, reaching new high gives us new targets. On the chart we see some patterns developing. Previous support lines will turn resistance, and we might see a near bottom channel drop. Once we resume ,we have new targets set up for our long. $15 now becomes $15.60 (I use 80%). $17 now likely.
Above are long term estimates. In the short term duration, expect the resistance to apply and the chart to stay within trend channel. If anything crazy occurs, and OMG breaks SOUTH of trend channels, and you are not invested yet, I have wrote down some very good buy in zones. 50% and 61.8% are the best retraces for further continuation patterns. If it breaks below these, we are no longer trading fibonacci patterns. But if bounce happens at one of these, great opportunity to buy.
Still consolidating, reaching new high gives us new targets. On the chart we see some patterns developing. Previous support lines will turn resistance, and we might see a near bottom channel drop. Once we resume ,we have new targets set up for our long. $15 now becomes $15.60 (I use 80%). $17 now likely.
Above are long term estimates. In the short term duration, expect the resistance to apply and the chart to stay within trend channel. If anything crazy occurs, and OMG breaks SOUTH of trend channels, and you are not invested yet, I have wrote down some very good buy in zones. 50% and 61.8% are the best retraces for further continuation patterns. If it breaks below these, we are no longer trading fibonacci patterns. But if bounce happens at one of these, great opportunity to buy.
Comment:
Broken first level resistance, look for trend at top of channel. Breakout of top channel === real deal. else, continue pattern.
