- Fibonacci speed resistance fans
- Chande Momentum
- VWMA (Length: 8, length of 20 on hourly)
OmiseGO popped up to $17 and quickly dropped. Currently forming a , looking forward to a confirmation for a continuation of it.
Arguments for a long position:
- Taking the traditional method of finding target price of a , OMG should hit $20 after breakout
- ATH is just around $40
- Strong FA, both team and community wise; https://verifiedtopics.com/omisego-omg-s...
- Re entering main (green) regression channel after it failed to break out under it. (Poor correlation ratio at ~.5 however)
Arguments for a short position:
- Currently in a correction phase after a huge rally
- Top of channel, expecting it to drop again in the flag channel
- Seems to have failed to break out from cyan regression channel
- Weakening momentum
- RSI making a hns pattern (lol)
Safest move would be to scale in long orders from $10 onwards as BTC is still grappling with its identity crisis.