I have seldomly seen a cleaner technical picture of an asset. Target of this 'bazooka' is around 40 dollars, depending on the pace of the move.
RSI on the 4h chart is rather high, which is not necessarily a bad thing going forward. On the contrary, it's rather typical for a bullishly trending asset. It's also noteworthy it's not an high RSI reading accompanied by strong resistance, as it was the case on numerous occasions in the past (exactly that trendline of the 'bazooka' I am talking about in this Idea, which aims way higher on this occasion).
The high RSI reading means though, OMG could (no certainty at all) cool off a bit in the short term. I think the 17.5-18 usd range is an interesting place to initiate or add to positions.
I will try to provide some updates of the shorter frames later on.
I wish you all the best in your trading/investing endeavors.
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Looks like we finally found a good bottom.
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Ma50 4h is still above price and will be solid support. Trade (and target) is still valid in my opinion.
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OMG still above ma50 4hs, not exactly going op hard again, yet. We have strong support from Bollinger bands, ma50 and horizontal base (triple support) in the ellipse zone.
My take is, trade and target still valid.
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Ma50 4h seems to be the support I expected it to be.
welcome back brother it was a long time take a look at fantom and xrp
wesheets
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Looking for the bounce off 4H 21EMA
spiritedrock321
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What are you guys thinking for this one? What is the best time to pull out no matter what with this airdrop coming?
spiritedrock321
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Update?
W0lfRAider
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@spiritedrock321, ma50 4h my friend, good support. It will work out fine probably (I can't give you a 100 percent certainty of course ;-)). Gospeed!
ZoroTheSigma
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Thanks looking forward to update
W0lfRAider
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@kendalroper, Hi. For now, I just look at that ma50 4hs. That's a very important support and losing it would be very weird. let's say I do not expect that to happen, at all.