Weakness in OMG/BTC for Now
Updated
Only a partial rise in the third peak shows bullish weakness as price failed to reach resistance. An arguable triple top but more bearish with the rise failure. D-M-I shows sideways ranging momentum only as +DM -DM and ADX are all below 20. Potential bullish cross in SRSI but I think D-M-I will prevail and SRSI will bounce along the 30 for some time. The Kumo span A and the fib align nicely, meaning good support at that level. Would wait for D-M-I to break 20-25 for a long entry as long as supported by SRSI breaching 30 and a positive MACD slope.
Note
tradingview turned DMI Direction Movement Indicator into a stock hyperlink. Just ignoreNote
Changed DMI to D-M-I to remove hyperlink
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