andyhitchman

OMGUSD need to pullback more. Future rally.

BITFINEX:OMGUSD   OmiseGo / Dollar
Possible falling wedge may break in upside reversal.
Will likely under-perform Bitcoin for next weeks.
$8 support weak and failed.
$6.75 next support from LHS funnel and prior spikes down.
1D TD 3S.
Price below moving 1D 10 EMA , 30 EMA , 50 SMA , 100 SMA .
Volume declining.
1D MACD-H bullish divergence . No RSI or EFI confirmation.

No trade or Short to 6.75. Then consider long entry.

Watch for early breakout of rising wedge ; particularly if BTCUSD pulls back, although given the strength of BTC this would likely resolve to a failed breakout on OMGUSD when BTC rallies.
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