Quick UPDATE ! Bullish OMG-USD Bitfinex 1D Update! Sept 27th.
The Price that first was leaning on the downside of the triangle with the possibility of breaking down towards 7.40, and targeting the 61.8 Fib line at 5.51 USD, has reversed. - see previous post OMG/USD- This, thanks to Bitcoin lifting alts up again.
In a nutshell:
1. IF the Symmetrical triangle breaks upwards, a new ATH- is the next target set to be around 15.00-15.25 USD. The interesting thing to note is the Bull flag forming on lower timeframes- highlighted in yellow- in favor of the bulls.
2. Important to keep an eye on the MACD as it looks like a bullish turn might happen soon when the crypto market turns bullish again.
3. Still on the Bearish side. There is a possible Head and Shoulders forming, this pattern is still valid if OMG breaks down on the triangle. While price should have completed the right shoulder between 7.40-7.50 , a double shoulder might occur lower at the neckline . if price breaks down of the triangle, a complex head and shoulder is formed so, below targets are kept. target 4.50 ishh.
4. We have our numerical indicator turning green with a bullish engulfing candle, forming a perfect pole initiating a bull flag pattern. Exciting to see the results...
In a nutshell:
1. IF the Symmetrical triangle breaks upwards, a new ATH- is the next target set to be around 15.00-15.25 USD. The interesting thing to note is the Bull flag forming on lower timeframes- highlighted in yellow- in favor of the bulls.
2. Important to keep an eye on the MACD as it looks like a bullish turn might happen soon when the crypto market turns bullish again.
3. Still on the Bearish side. There is a possible Head and Shoulders forming, this pattern is still valid if OMG breaks down on the triangle. While price should have completed the right shoulder between 7.40-7.50 , a double shoulder might occur lower at the neckline . if price breaks down of the triangle, a complex head and shoulder is formed so, below targets are kept. target 4.50 ishh.
4. We have our numerical indicator turning green with a bullish engulfing candle, forming a perfect pole initiating a bull flag pattern. Exciting to see the results...