Good morning,
Last night OMG broke the uptrend line and fell down through the cloud. As we approach oversold on the RSI, I’m looking for the next line of support. I see two possible places: first at $8.50 where the price bounced earlier this morning and back on September 24th, and the next at $7.70.
If the price bounces and breaks through the downtrend line, I believe it will be a good signal to buy.
I love this little coin!
Last night OMG broke the uptrend line and fell down through the cloud. As we approach oversold on the RSI, I’m looking for the next line of support. I see two possible places: first at $8.50 where the price bounced earlier this morning and back on September 24th, and the next at $7.70.
If the price bounces and breaks through the downtrend line, I believe it will be a good signal to buy.
I love this little coin!
Trade active:
Good evening,
OMG appears to have bounce from the $8.50 mark from earlier today and also has appeared to have broken the downtrend line (still waiting for the candlestick closure).
Where to next? I think we will see resistance around $9.60 and $10.20. I will be watching BTC closely now, as BTC determines the main market trend. If BTC breaks down its uptrend line I believe OMG will follow, and if that is the case those points of resistance would be good places to get out of short-term trades. If BTC support holds I think we will see OMG return to retest resistance at $11.
OMG appears to have bounce from the $8.50 mark from earlier today and also has appeared to have broken the downtrend line (still waiting for the candlestick closure).
Where to next? I think we will see resistance around $9.60 and $10.20. I will be watching BTC closely now, as BTC determines the main market trend. If BTC breaks down its uptrend line I believe OMG will follow, and if that is the case those points of resistance would be good places to get out of short-term trades. If BTC support holds I think we will see OMG return to retest resistance at $11.