OmiseGo - Positional Trade Setup

BITFINEX:OMGUSD   OmiseGo / Dollar

OmiseGo is back at pre-December prices and after a double bottom is slowly stepping to the upside offering a potential swing trade and longer term investment opportunity. This may be one of the most undervalued coins in the space as the team, advisers, and venture capitalists are a who's who in the crypto space. In addition Omise continues to make partnerships including McDonalds , Thailand's Government and recently Shinhan a large South Korean bank. They compete with ripple and stellar lumens but the case in point to be made is that anyone can stake their coins and process transactions unlike ripple and stellar lumens.


We currently are testing 9.43 or the 0.382 retrace of the previous bearish wave. This is a critical area to close above and see a continuation higher. The next resistance level comes at 10.66 which is 13% higher. First support is found in the 8.64-9.00 zone which is the 0.382 and 0.618 retrace of the current bullish move. Longer term target 11.85 to 12.60 which is the 1.618 extension of the previous bull move and 0.382 retrace of the overall "C" leg. The 7.50 to 7.87 level offers lower support. Actual trade was posted elsewhere.


OmiseGo is an inexpensive coin and has the potential to outperform the market. This is similar to buying a less expensive stock. It is easier for a $9 coin to got to $36 then a $7000 coin to go to $28,000. I like OmiseGo here and regardless if the price pulls back I will simply add more. The market is starting to stabilize and we are seeing signs across the board that we MAY have found a bottom. To be clear we can always go lower but investing in quality coins with potential is best when market sentiment is low. I remember one comment when we were trading above 20 that stated, "I wish I had an opportunity to buy at 10 again". Well here's your sign!
Hi Andy ... any new thoughts on this ...

Looks like a cracking entry point no??

Love ur hear your latest pls.

would love a new analysis on omisego:)
dwk8081 seriousmar
@seriousmar, ditto
@goldbug1 can you please update. When should we buy again it will retrace back after yesterday's move?
Any chance of an update GB?
Nice call Andy!!! Very well done ...

Where to from here u think?
Nice analysis @goldbug1 ! I really would like an long term analysis on omisego if you got the time;)
sooo we're pretty sure OMG and GNT are going to coinbase after the last 24 hours, yes?

Here is part of the article

Nikkei: Global venture capital (VC) Global Blaine (GB, Shibuya, Tokyo) announced on August 8 that it will launch an investment fund in March 2009 for mediation in the field of "block chains", distributed book technology. Invest with companies in various parts of the world, in partnership with Omise (Thailand), a net payment service that makes use of block chain technology. The amount of investment is expected to be several tens of billion yen, the first fund of Japan originated in Japan that focused on the same field. We also operate an exchange base with research and educational functions jointly and aim to become an international platform supporting related business.

Apparently the Nikkei has an article on OMG.

I will shoot it thru when I find it.

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