WMWToronto

OMG in Review

Long
KRAKEN:OMGUSD   OMG / USD
Good Morning to Those Who Sleep in Late

Just a quick review of OMG on this Canadian Thanksgiving weekend. So it looks like we can casually see that OMG has been on a gradual upwards movement each 90 days showing a nice 30% price increase during these periods and the angle of assent has been a somewhat reserved 22%. I believe we can see OMG continuing this pattern until the end of this month and then we can continue chart to year end.

The only thing we had to deal with was that rapid spike in price in Sept ( for no reason that I know of, although I haven't researched it) A spike like that is an anomaly and I don't take them into account when I am looking at a chart, because as you can see, they come back down just as fast as they went up. Straight up and then straight down is a "wash" in my books, so I ignored it and continued on after it came down to earth. Some traders like this type of action, as they can short the asset at the peak of the spike and buy back at the bottom, but all it does for me is to screw up my perception of an asset that is moving in a nice predictable upwards fashion.

I think or hope OMG will continue to trade in a sideways pattern and we will write a nice 45% profit for this 3 month period. Hopefully we will see yet another upwards movement and this will add to our data to help confirm this upwards "step pattern" we have seen in the past.

So in any event, if you have been holding OMG during this period you are "in the money" as they say. Above and beyond my two stable positions with BTC and ETH I hold a few positions in the more crazy market of ALT coins, that are in some way involved in addressing the ETH 2.0 problems. I happen to like LINK for this reason.

In closing, I'm looking forward to reading more of your posts and I will be sure to include a reference to them in my future postings....good or bad. Have a pleasant day and it would be interesting to know where you are located in the world when you post because I enjoy many of the different perspectives from various cultures around the world.

Ward Weaire
Toronto, Canada
Oct 12, 2020
6:52 AM

Comment: Short Check UP: Seems the price is moving where anticipated, the volatility is reducing and we could arrive somewhere at the $3.50+ mark by EOM. Business as usual.

Comments

Thanks for great analysis...
+1 Reply
Thanks for the analysis well done.
+1 Reply
thanks VERY much for this, I think I shall keep mine for a long term hodl. from France hoping to move to a crypto friendly country for tax payers... like Portugal maybe
+1 Reply
There are some potentials given especially when supply increases, thanks for the update.
+1 Reply
WMWToronto VincePrince
@VincePrince, I am going to have to look at some of your charts later today. They are "much" better than mine and with far more analysis.

Thanks

Ward Weaire
Toronto, Canada
Reply
good news thank you !
Reply
september price spike was the result of bitfinex/usdt integration. future integrations could potentially bring similar spikes. team has confirmed that other integrations are in the works.

still, it's interesting to see the spike and then the price settled into the pattern you've identified. will be monitoring this token with keen interest
Reply
WMWToronto captain_trips
@captain_trips, Integration or investigation ? Wasn't Bitfinex charged with some stupid, invalid charge by the SEC or am I thinking of a completely different entity ? I believe this was around Trump announced he tested positive for the Covid-19 virus. I'm probably wrong.
Reply
captain_trips WMWToronto
@WMWToronto, omg network is integrating with exchanges to reduce the trading fees for ETH. i believe you are thinking of BitMEX. bitmex is facing issues with the US gov.
Reply
WMWToronto captain_trips
@captain_trips, Ahhhh thanks. All these "Bit" things to keep track of.
+1 Reply
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