OmiseGO, a Mid - Longterm analysis [OMG/BTC]
A Mid-Longterm look on OMG/BTC
One of my favourite projects, with a cyclic nature will hit back soon. A common cycle is sub $10, then above the $18+ region.
Here we want to pick up OMG around a support region after it has some good buyback volume after selling volume thins or shakeout occurs.
In this trade I use:
~SMA 30.
~Trendlines.
~Horizontal support lines.
~Volume for confirmation of bleed.
~RSI.
~Fibonacci retracement to line up with targets of trendlines / to see if these regions naturally occur.
~Stoploss / sell zone on a fakeout of a buy in.
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This is NOT a buy OR a sell signal. I'm not a financial adviser and nothing I say is a fact, any losses made through these decisions do not hold me accountable and you should never invest more than you're willing to lose.
Thanks for reading, a follow on tradingview and a like would be greatly appreciated.
1k followers ~ FACE REVEAL
Xander
One of my favourite projects, with a cyclic nature will hit back soon. A common cycle is sub $10, then above the $18+ region.
Here we want to pick up OMG around a support region after it has some good buyback volume after selling volume thins or shakeout occurs.
In this trade I use:
~SMA 30.
~Trendlines.
~Horizontal support lines.
~Volume for confirmation of bleed.
~RSI.
~Fibonacci retracement to line up with targets of trendlines / to see if these regions naturally occur.
~Stoploss / sell zone on a fakeout of a buy in.
Want to join a private trading group?
PM me.
This is NOT a buy OR a sell signal. I'm not a financial adviser and nothing I say is a fact, any losses made through these decisions do not hold me accountable and you should never invest more than you're willing to lose.
Thanks for reading, a follow on tradingview and a like would be greatly appreciated.
1k followers ~ FACE REVEAL
Xander
Comment:
Update: If close above trendline wait for confirmation out of regrerssion trend and take long.
Comment:
Rejection occured on the pullback, could see some more downside on a break of the previous days open.
Comment:
OMG has just touched the first support area after following the regression line! Potential bounce here, this could line up with bitcoins move here.
Comment:
Apologies for not updating this one as I have been so intense on BITCION!
I hope you saw my previous comment about touching the support. It has moved out the regression line and crossed both of our trendlines, I picked some up at 13.5k region when BTC was 7.1k on our support zone and I don't regret it, this is now with XLM got me about 28% up.
Once we cross the Moving average it confirms the trend for me, the candles are super bullish currently but on this sort of run with the MA and the trendline just below there will be some small down movement I imagine.
This is my thought process, also as I started the market cycles of sub 10, 18+ are under way, however 18+ could be a harder reach this time depending on how far BTC goes.
I hope you saw my previous comment about touching the support. It has moved out the regression line and crossed both of our trendlines, I picked some up at 13.5k region when BTC was 7.1k on our support zone and I don't regret it, this is now with XLM got me about 28% up.
Once we cross the Moving average it confirms the trend for me, the candles are super bullish currently but on this sort of run with the MA and the trendline just below there will be some small down movement I imagine.
This is my thought process, also as I started the market cycles of sub 10, 18+ are under way, however 18+ could be a harder reach this time depending on how far BTC goes.
Comment:
Rejection by the trend line. Looking for areas of support again.