Generally: This is a limited scope fib retracement, supporting the trend-based extension. I will regularly plot these for 6 or more pairs over the next 12 months in order to complete an backward looking analysis on a series on tools (TA and others), used by many in trading/investing in crypto. Now, on to a description of the current 1 day chart and some...
Important part of the ETH ecosystem, and Ethereum is doing very good lately. I'm not that interested in ETH, so let's rather have a look at OmiseGO :) Fundamental So.. I've had OMG since I started the spreadsheet method. It's in profit, but should have performed better considering the overall increases. I'm holding on, and feel this is a very nice time...
OMG is a coin that respect both FIBs and Levels A LOT. For that reason it is a safe bet for me. Purple lines and FIBs all match up on levels that it bounced off of during the downtrend which was confirmed to be done when OMG went from 0.0005 to above 0.0011. This market is VERY bullish despite BTC dropping like a mad man. Expect OMG to go up BUT be aware of BTC...
As Crypto markets tighten, many coins are setting up for what would seem an imminent breakout. OMG has tested an upper resistance line multiple times. If resistance line is broken, I would expect an abnormal volume and price increase.
It did break out from the downward channel...a good for Omisogo for a falling wedge bullish signal.
OMGISEGO OMG/BTC Omisego looking bullish. - RSI @ 53, neutral but becoming oversold. - MACD trending well, last crossed on Feb. 6th, and continuing in new trend nicely. - Bollinger Bands have narrowed indicating a sideways trend may have formed for the time being. BUT they also seem to beginning to widen again, indicating another outbreak imminent, and with a...
Possible breakout on OMGBTC from current consolidation, which shows typical steady decrease in volume. MACD moving towards signal line and Stoch RSI looking bullish moving towards oversold zone.
Looking for OMG to finish the current ABCDE retracement before going sideways and potentially reversing retracement down-trend.
OMG is like the most altcoins in the 4th wave ( retracement wave ), the 4th wave almost touched the top of the 1th wave that means it will bounce.
Support became resistance. Waiting for a higher high or drop to buy zone before I'm going back in.
I expect a rebound from the support line and the yield of prices to the channel resistance line
OMG is currently on the Cup N Handle Break out. Bought in at 1436 and rebought more at 1467. Not sure of the velocity in Growth, but its headed in the right direction. Slow Steady growths into February.
Forecast for Omisego - RSI @ 49 currently, neutral as it is neither overbought or oversold, if RSI continues downward towards 30, OMG becomes more oversold and more bullish. - MACD's last cross was January 17th, expect it to cross again in the very near future (maybe a week or two). Expect price breakout to be bullish. - Bolling Bands are clearly narrowing,...
Would like a buy at this leve land take out the previous high. stop loss below todays low 0.001346 target 0.002
OMG will gain 75% gain from today in couple of Weeks.
OMG/USD reached the first target of a AB=CD pattern at 12,55, second target at 8.30 is a bonus but it´s also a critical level. If OMG breaks support of the bullish trendline than a potencial head&shoulders pattern will come into play with targets I´m scared to mention. In my opinion caution is advised on this cryptocurreny!