llywellyn

$OMG Nearing a Completed Correction? #omisego

Long
BITFINEX:OMGUSD   OmiseGo / Dollar
Here's my current OMGUSD Elliott Wave count. It's possible OMG could wrap this thing up & get back at it shortly.

Comments

I think wave 5 is in progress now it was whole an extended wave 3.
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llywellyn lrs1995
@lrs1995, that's the nice thing about this situation - either way we should be seeing the uptrend continue!
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heisginger llywellyn
@llywellyn, Wave 4 looks to be in now right? It hit that 0.618 fib like a charm and bounced. While BTC is affecting everything, distorting the picture slightly and presenting new risks if it turns downwards (TA's are divided on this it seems, so we need to adapt to whatever the market decides), I'd say there is a good likelihood the bottom is in for BTC. Save a quick retrace to $7900-$8100, I'm not expecting more bearishness anymore (though some are still convinced we'll see $6k or lower!).

Let's see if we get some rocket action in next few days to confirm our excitement is not misplaced! Happy trading all.
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