Hey, I am back with another idea, this time I was looking at some Crypto charts and have spotted this nice looking bullish formation which is called Falling wedge.
As the 50 and 200 EMA are coming close together, I am expecting a volume soon.
Do I think that OMG can actually see a 80% rise without BTC rising? Well yes, take as example a VET that has made 80% easily in few days while Bitcoin went sideways.
Ideal entry is in the green area. TP1 $2 (45%) TP2 $2.5 (80%)
If you have found this analysis thoughtful, please don't forget to leave a like as I share with you these great ideas for free :).
This doesn't look like it's going to be a steep breakout. It could take a week or more to play out. And as most alts move after BTC, if the latter switches direction, so might OMG...
What is your opinion in terms of timeframe?
TiborVrbovsky
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@KryptMe, I am not saying the price will pop today, tomorrow, maybe in a week and it can take even a two weeks before it reaches the $2.5 mark, but being even a month in one trade for 80% seems still pretty worth to me.
RTurner090
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Wedge or flag?
TiborVrbovsky
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@RTurner090, They both look similar, both bullish with the same outcome, flag is only a continuation while the wedge can change a trend. The flag's are on smaller time frames, like up to a month but even that would be considered as a very long flag, while on the other hand Wedges as this one are both small time frame but also viable on bigger time frames, such as this one which is 45 days wide. So it's a Wedge!
What is your opinion in terms of timeframe?