We'll test back to 3.8 soon but volume here isn't great. C&H formation back down to the 3.3 mark. Purchase here then we'll break back to 3.8
Once that breaks, FIB Channels @ 4.1 and 4.6
Buy @ 3.3
Break @ 3.8
Sell1 @ 4.1
Sell2 @ 4.6
Stop Loss: 3.2
Forgot to press publish by a bit, so optimal entries are sadly fortfeit.
OmiseGo stalled previously and established a lower low in conjunction with BTC. Later a HL was established, which created a new trendline with pre breakout resistance and the previous low.
I have strong confidence in this new low for two reasons, which i will now detail.
4RSI has balanced...
After the rally, OMG is moving on a big ascending triangle, which is a bullish continuation pattern.
Market rejected the downtrend on the 0.382, 0.5 and 0.318.
The published long position only poses a Risk/Reward of 0.8.
Only small volume orders should be considered
OMG For long term investment will a good token to have. Q4 of this year OMG are planning to start building there framework. With good founders and solid idea, OMG should only go one way.
For day traders there is fluctuation of movement between $2.90 and $3.30
Long term investors - $10 + Buy the end of Q4.
This is a new coin, probably pumping because of exchanges adoption.
Levels are based on Fibonacci Extension, and trading can be risky.
Last rally is paired with BTCUSD rather than the OMG market itself.
OMG a tech company that does decentralised peer to peer payments in the cryptocurrency sector. After studying the technical side, they are indeed having a strong trend line and good Support. Will need to keep a close eye on it until it establishes a average, but at the moment i just see this share going up!MACD also Showing strong indications of an upward trend...
Noticing a couple trends on the chart, we notice that our previous high fell quite a bit almost down to 1.00, our 50% fib ratio was surpassed on the uptrend, but the 61.8% line held strong and bounced all the way back down.
Now OMG is looking to retest that value, after breaking out of it's triangle. It has bounced off it's moving average and seems to be on...
Bitcoin isn't the only cup and handle out there.
This recent ICO OmiseGO promises to decentralize an exchange. They seem to be further along in the company creation cycle due to the fact they already play a role in the Asian Fintech space with several large clients with their payment processing house. Vitalik wants this one to work as you see his computer has...
Pun intended. Haha.
OMGUSD seems to form a double bottom. Still, its price movement is dependent on BTCUSD.
See my analysis on BTCUSD to know the price movement.
