Looking at the daily chart for OMG, we can see that the price has been consolidating since its meteoric rise in Aug/Sept of last year. At the moment, it is approaching a key support line (white) from which it bounced off of in December. This support acted as the steadfast catalyst it needed to start its next run up. Could it happen again here? We'll see. We can...
Weekly Looking at our trend timeframe we see price is currently testing our weekly trendline, stochastic rsi showing momentum has nearly bottomed out and we should start seeing reversal candles form on our smaller timeframes. Daily Shifting over to our pattern timeframe we see price respecting our descending wedge pattern, stochastic rsi showing possible...
Everything is easy when things are bullish. Things go to shit when drop happens. But I think this will kick up. I think $10 or $11 but chart says $9. Eathier ways its a good gain. BTC, I think it has 30% gains.
OMG rejected the previous double bottom at the weekly support around 114585. Now has dropped with btc to a 4 hr support and formed another double bottom on the 4 hr time frame. a nice bounce off support has now happened although there is a weekly trend line just above which may act as resistance. I will be waiting for it to make a move either up or down from...
It should drop further after the impressive breakdown below the sliding line (sl). OMG/BTC could be attracted by the confluence formed by the 50% Fibonacci lines.
As we can see, OMG has been stuck in a falling wedge and seems to me like an ABCDE correction. Rules of ABCDE correction dictate that there's a high probability of a breakout at termination point of Wave D. Lets not forget that there are not one, but two airdrops incoming for OMG in the near future. In short: We have Technical and Fundamental evidence to support...
OMG is forming a double bottom on the daily at a strong level of support. This level has been respected as both support and resistance multiple times on the 4 hr and daily time frames. Looking for a good bounce here to break the daily down trend line and head up to retest previous structure. Tight stop loss in place just in case this support doesn't hold.
Use a stop loss accordingly considering it isn't clear where btc is headed
OmiseGO (OMG) is one of the top altcoins, 20th by marketcap and just bounced recently from oversold on the RSI. Last time that OMG bounced from oversold back in early December 2017, it went on a 4x bull run, that's 400%+ increase in price. Right now the Altcoins market is moving, positive/up, and OMG just bounced from the oversold line on the RSI. I am seeing a...
Looking like a retest of support and then OMG can take off. First stop is going above MA50 / 200 EMA and then hitting the fib levels. We've already had 2 touches to resistance and 2 to support. One more to break resistance and we should be seeing some nice increases come August if BTC pushes up as well.
OMG/ETH and OMG/BTC show similar trends. RSI, MACD look promising. VFI still in the bear territory - not much buying yet. I wonder if/when it gets a volume spike. So far slowly grinding up. Use a tight stop in case the bear scenario plays out. Although my bet is on bulls. The bear scenario isn't bad either - just stop out, wait for the double bottom, rebuy. If...
Price increased in the last days and it was somehow expected to climb towards the median line (ml) after the false breakdown below the median line (ML) and below the sliding line (sl). Only a valid breakdown below the median line (ML) will announce new lows. However, a valid breakout above the median line (ml) will send the rate higher.
OMG/BTC is challenging the sliding line (sl) and the median line (ML) of the ascending pitchfork. A valid breakdown below these lines will open the door for more declines. The next obstacle will be at the 50% Fibonacci line of the descending pitchfork
A valid breakdown below the ml will signal a further drop towards the downside 50% Fibonacci line of the ascending pitchfork.
Cycles are a huge part of trading. We are always on the lookout for clear indicators of reversal near the bottom and top of ranges. OMG has seen a clear breakout from near the bottom of it's range. We recommend entering with a tight stop loss due to the current risky position of BTC 4.20% . Make sure you manage your capital - we recommend investing no more than 3%...