BITTREX:OMGUSD   OmiseGO / US Dollar (calculated by TradingView)
OmiseGo continues to reject the uptrend trendline , with the most recent touch occurred just yesterday, when it hit $9.2. This is also an 88.6% Fibonacci retracement level of the previous wave up.

If price stays above that support, trend reversal could take place. An it is very interesting that the nearest strong resistance is seen only at $88 area, which is almost x10 growth potential. Resistance is confirmed by two Fibs, first applied through the all-time high, and second applied through the current corrective wave down after the downtrend trendline breakout.

Nevertheless, the downside risk remains and will only become valid if OMG/USD will close below $7.1 low, established back in February. Only, in that case, the downtrend might continue.

This means BTC will hit 50000. why not. This is Disney world.
+3 Reply
Thank you - patience, holding, cumulating and accepting current (and upcoming?) pain - these will pay off in the long run:-).
your prediction was accurate in the bulls market back in late 2017... why you always bullish in bearish market!!
HiTech Marzo999
@Marzo999, i take a long term predictions, which are often valid in a medium term bearish market
no reason
HiTech aklang
@aklang, the reason not always is obvious
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