omgusd appears to be bottomed out, reaching the green area (buy zone) a third time. furthermore, a nice falling trianle formed, which could break out the next couple days, we´ll see.
this is not a trading advice!
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Trying to gain some momentum with the green trendline as support.
Volume increasing but not too much yet.
Started to cross Ichimoku cloud that matches resistance at 443sats.
Wait for confirmation signals(volume!, UCTS buy signal), set alerts above 420sats.
First of all take a look at day chart with side volume bars. You can see a big gap which means minimum resistance in this area. Surely it was caused by BTC fall and many coins have the same picture but keep it in mind.
SR line at 376 is based on month chart. Note the volume when it was broken. Now all that power is in...
. OMISEGO/ETHEREUM is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 46.
. While the price downtrend in the daily chart is not broken, bearish wave in price would continue.
. The RSI downtrend is broken, so the probability of the resumption...
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.
The first TP = 2.6561 has been hit and OMG is even near reaching our final 1.4942 target, which seemed impossible some months back. Needless to say the price broke the previous Rectangle and re-entered the 1W Channel Down (RSI = 32.200, MACD = -2.084, Highs/Lows = -1.0815, B/BP = -2.6173) which can extend for a Lower Low as low as 0.7727 (monthly SMA200). Once our...
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 :)