MegaWhale

OMG - BEARISH!!

COINBASE:OMGUSD   OMG/USD
OMG is seeing a very bearish pattern playing out - ascending wedge! This pattern is shared with many other altcoins, alongside bitcoin forming a head and shoulder pattern on the 4-hour chart the overall market direction is pointing downward!

I believe we will see downward movement for the remainder of the month before we head back up nearing the later half of the month - could be a great opportunity to load up on some cheaper coins!

As always let me know your thoughts

''Buy Big Sell BIGGER'' - MegaWhale

Comments

looks like ascending triangle and that is a very bullish chart pattern....?
+5 Reply
In fact it just broke out of the ascending triangle is headed for an initial target of 6.00-6.15
+4 Reply
That is an ascending triangle 🧐 OMG bottomed out and is looking super bullish
+2 Reply
How you drew it, it looks like an ascending triangle
+2 Reply
MegaWhale BarryChartMonkey
@BarryChartMonkey, It is only an ascending triangle when the price enters the triangle from the bottom, not the top as shown in the post, thus making it a descending triangle :)
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@MegaWhale, So... is it a descending triangle or a rising wedge? LOL
+1 Reply
@MegaWhale, $OMG is one of the top performers today. Long story short, #OMG is an extension of $ETH with a much lower market cap. If you're looking at the ETHUSD, ETH.D, and ETH/BTC charts, you know it's going to pump a lot today and the next week
+1 Reply
Smith1108 BarryChartMonkey
@MegaWhale that is not a descending triangle either.... it’s a textbook ascending triangle..... you need a new pair of glasses
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Smith1108 BarryChartMonkey
@xxNightr1derxx he does not know because he’s clearly never seen these patterns... it’s an ascending triangle.... and the price is now above the 21ema if it closes above it on the daily we are looking spicy
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Smith1108 BarryChartMonkey
@MegaWhale wrong
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