Omisego has now crossed the 3.2170 1D Support and is approaching the first TP = 2.6561 on a newly developed 4H Channel Down (RSI = 30.591, MACD = -0.210, Highs/Lows = -0.1867, B/BP = -0.4322). 1D though will be now looking for an even lower Low (Highs/Lows = -0.5904), near our second TP = 1.4942. With the 1W Channel Down (RSI = 35.080, Highs/Lows = -2.3619) however aiming even lower (0.300), we remain bearish on the long term.
How is it looking at the moment? Are you as confident as before or even more?
InvestingScope
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@LogicalDeduction, That is correct. It remains bearish within our 1W Channel Down model.
UncannyDeduction
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Are you going to short it?
InvestingScope
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@LogicalDeduction, That is correct.
UncannyDeduction
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OmiseGo will get some fresh fuel from all of the shorts.
InvestingScope
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@LogicalDeduction, As long as it stays within our 1W model and below the 50% Fibonacci R on 1D, then it is a short opportunity.
UncannyDeduction
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@InvestingScope, What's the chance of it going to $5.1 in your opinion?
InvestingScope
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@LogicalDeduction, According to the fact the no Lower High surpassed the previous one since May 3th, we would say slim. BTC demand can only change that and we are monitoring this 24/7.
alerom
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Looks like that 2.6 was just your fantasy
InvestingScope
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@alerom, It is still within the 1W Channel Down model, but thank you for your constructive comment.