OpenBlock

OmiseGo Plans To Rise After Trendline Breakout

Long
BITFINEX:OMGUSD   OmiseGo / Dollar
OmiseGo showing some strength during the past week. It has managed to break above the downtrend trendline and on a corrective wave down it rejected it. Same happened with the RSI Oscillator breaking the trendline and then rejecting it.

Overall there are signs of emerging uptrend with the first target being near the previous resistance, the all-time high, which is at $13 area. It corresponds with the 327.2% Fibonacci retracement applied to the corrective wave after the trendline breakout.

Daily close below $6 support should invalidate bullish outlook and could extend the consolidation.
Comment: OmiseGo Gaining Momentum, time to rise!
Trade active
Trade closed: target reached: While the $10 resistance area is holding there is the risk of correction
Trade active: should get now to the target and potentially beyond
Comment: OmiseGo rejected final resistance

Comments

Can i buy now ?
+1 Reply
OpenBlock Chroniclez
@Chroniclez, I can't give you advice, but I can tell you that I bought it now
+1 Reply
Thank you. Doubt we'll see that $6
+1 Reply
What will happen now
Reply
OpenBlock sofiane-sher
@sofiane-sher, potential correction
Reply
sofiane-sher OpenBlock
@OpenBlock, down to where should we exit and buy low or just hold on
Reply
Still active?
Reply
@Summys, yes
Reply
look at OMG/BTC last 12 days. we touched support line and its going up. target 0.00111btc
Reply
OpenBlock dzadzulo
@dzadzulo, so far looking good... expecting target to be reached within max 30 days, but probably much faster
Reply