Good day chart lovers and those who believe they can forecast the future while the Gods laugh.
This is a rather simple analysis of OMG/USD since its inception where I have measured the time in days from peak to peak. Here is an approximate of those numbers. Period #1. 108 days Increase 31.8 % Period #2. 100 days Increase 25.8 % and Period #3. 100 days Increase 242.7 % Now period #3. is an anomaly, but I have left it in for this example, but will smooth it out for a later chart. When we do the averages we see that each period from high to high is approximately 100 days for a increase of 100% ( averaged out ) As you can see the 200 day MA is 18% angle upwards, slower than what I usually like to see, which is between 30 and 45 degrees.
So if we extrapolate out and upwards from the last peak, that puts us out at $12.40 price by around November 30th, 2020. Please note the log. price axis. Now this is a very basis analysis and I would like to see how it unfolds and I would love to see/hear from other traders who use more sophisticated technical analysis.
Have an interesting day and please remember your stop-losses, bull markets don't last forever and the intelligence of dollar cost averaging in both buy & selling.
Ward Weaire
Toronto, Canada
This is a rather simple analysis of OMG/USD since its inception where I have measured the time in days from peak to peak. Here is an approximate of those numbers. Period #1. 108 days Increase 31.8 % Period #2. 100 days Increase 25.8 % and Period #3. 100 days Increase 242.7 % Now period #3. is an anomaly, but I have left it in for this example, but will smooth it out for a later chart. When we do the averages we see that each period from high to high is approximately 100 days for a increase of 100% ( averaged out ) As you can see the 200 day MA is 18% angle upwards, slower than what I usually like to see, which is between 30 and 45 degrees.
So if we extrapolate out and upwards from the last peak, that puts us out at $12.40 price by around November 30th, 2020. Please note the log. price axis. Now this is a very basis analysis and I would like to see how it unfolds and I would love to see/hear from other traders who use more sophisticated technical analysis.
Have an interesting day and please remember your stop-losses, bull markets don't last forever and the intelligence of dollar cost averaging in both buy & selling.
Ward Weaire
Toronto, Canada