Wedges evolve, they are never stagnant.
In this case, OMG is still in accumulation. but sell volume is dropping.
We can see OMG go sideways a bit longer...but to see some upwards price action, we must break through the 9ema, the wedge, and a monthly level.
Buy in: 0.000370 - 0.000390
Stop loss: Close weekly candle below 0.000340.
Thanks a lot for the support.
Hit LIKE if you enjoy and profit from this trade.
A long-term possibility for OMG. The daily MACD is starting to curve at support and is coming to the end of its pennant pattern. A break to the upside would also be a break above the zero line, both bullish indicators. This could give us the potential to make an inverse head and shoulders pattern if the price could hit the neckline. Now, clearly this is all ...
Based in the market we are in now, i can see OMG drop a little more considering that BTC will be dropping more in the near future. If we dont break out this wedge here, we will keep dropping.
If you dont know BAKKT is coming out and the big players will be trying to accumulate BTC low.
Play safe and ride the trend :)
Those who just can't wait and those who want to make trades on the risky market then here is a possible trade opportunity.
Technical trade criteria:
1. Round number $2.5
2. Trendline should act as a support
3. 50% from the current top
4. Fibonacci extension levels
5. Different timeframe RSI Divergence
It should make a pretty good profit but currently the ...
$OMG has been riding this daily support level for a while now. Looks like a good place to start building a long position. Green box represents buy zone. Good R/R. Will update position accordingly.
Average Entry: ~.000500
Stop Loss: ~.00381
First Target Price: ~.0019
Final Target Price: ~.00129
Risk/Reward Ratio: ~5.6
Technicals only (Range Bar Chart)
This is another chart for OmiseGO and this one looks really promising. Look at the upside down head and shoulders formation.
This chart combined with chart No1 gives quite solid signal to buy.
I wonder how market will react.
I think market didn't move after it bounced second time from the 50000 area. Wick of the candle touched support created by bodies of candles year ago.
Double bottom is spread which gives bigger chance that the rebound will be stronger. It is still good time to enter market as the risk is very low. Also 50000 is working as psychological ...
My previous analysis:
Previous analysis i showed a few signs, indicating the possible weakness on the short term, which got confirmed quite clearly eventually. It was a good example of a better safe than sorry situation. It bounced up twice exactly from that support area i showed and so far it has been moving up slowly.
I am going to try and trade this one, ...
Long here is an aggressive entry, but our invalidation level is tight. We don't want to see
Ripple close below Mondays High/Key SR without a quick bounce.
Once we have a higher high we are likely to hold here at support. Targets are BIG.
Good Luck from The TRADRZ Team