It is in the range of resistance and support, which has lost its first downtrend support. If it can reach the resistance range, it will have a chance to climb up to $ 7.5 and $ 10. Otherwise we have a chance of losing up to $ 3. If the support of the trend line loses, the analysis will be updated.
Its not Buy or Sell SIGNAL
DYOR
BY : Mohamad Teriz - @AtonicShark
OMG looks to be approaching a good opportunity for a bounce off of a previous trend line right around the long term 61.8% Fibonacci retracement area. This looks like it might be confirmed by hidden bullish divergence on both RSI and MACD for a continuation of the bullish trend.
I recently published as well how there was a double bottom for OMGBTC that looks to...
OMGBTC recently had a near breakout from a double bottom w-pattern a few days ago (blue dotted lines).
It has since started to retrace (as is common with a double-bottom breakout), however, if it does in fact continue to break upward again, there is some interesting resistance right around the corner.
Since 2018, a descending falling wedge has been forming for...
We see Omesigo trading in a ascending triangle after coinbase pro listing. If we break above the triangle i can see a move to the 2.50 resistance. If we break below then $1.50 range incoming. Lets watch closely! be with you.
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Comment $2.5 or $1.5!!
I'd like to see what the community thinks.
This...
i've had to revise the OMG count from the previous idea. we now have a completed 1,2 on the day and sub-waves 1,2 of the 3rd.
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BTC: 1LCayhGfdzsNP9M5227LyE28FKed4thEsB
LTC: LaPLQ6JoiqrxYED9FBNVphyApAhpW4Yw3R
ETH: 0x1Ec59747Ff307FaA71de070A3914e9afFbac7424
The count for the extended 3rd is quite tricky, but provided we hold the 0.5 you have a have a strong
case for the 4 being in.
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BTC: 1LCayhGfdzsNP9M5227LyE28FKed4thEsB
LTC: LaPLQ6JoiqrxYED9FBNVphyApAhpW4Yw3R
ETH: 0x1Ec59747Ff307FaA71de070A3914e9afFbac7424
OMG rejected the previous double bottom at the weekly support around 114585. Now has dropped with btc to a 4 hr support and formed another double bottom on the 4 hr time frame. a nice bounce off support has now happened although there is a weekly trend line just above which may act as resistance.
I will be waiting for it to make a move either up or down from...
OMG is forming a double bottom on the daily at a strong level of support. This level has been respected as both support and resistance multiple times on the 4 hr and daily time frames. Looking for a good bounce here to break the daily down trend line and head up to retest previous structure.
Tight stop loss in place just in case this support doesn't hold.
With BTCUSD in consolidation mode, I've turned attention to the alt pairs leading into next week. On my radar is OMGBTC that after hitting initial targets.
Now that price has returned back to the consolidation zone which was the original point of the first breakout, we can only assume there may still be buying interest in this range.
Reasons to consider a BUY...
OMG after that huge spike has found a second new higher level of support. It is repeating a similar pattern of consolidation which happened just before the most recent push. There is a potential new up trend that may form if it hits and bounces here which will send it up to retest a daily resistance at 193233 sats.
Watching closely for a bounce off the trend line.
OMG has performed nicely since the breakout at about $13 and has since doubled in price. OMG has exceeded my initial target of $18-$20 so at this point one could sell their cost basis
and then just play with the houses money. However, I will say that the amount of wicks on the daily candles tells me that the price has been held back to not let it get too
out...
