OMG - Too Quiet for Too Long - Expecting Run in Februrary 2018
Updated
Keeping an eye on BTC and 9k USD, but expecting a run up on OMG regardless of BTC breaking that mark and irrespective of ETH action in relation to BTC. It BTC moves up, ETH will move and OMG will come along. Prediction: If BTC fails to break 9k, it will likely did down, ETH will follow, but OMG will perform against well against ETH.
The Chart: This is a limited scope fib retracement, supporting the trend-based extension. I will regularly plot these for 6 pairs over the next 12 months in order to complete an backward looking analysis.
Dotted lines are based on Fib retracements plotted on the trend from 7/20/2017 to 9/12/2017. They indicate confluence of various Fib within said range.
Looking for a move above 0.0179. Expecting a min price of 0.023.
Thoughts, comments, critique welcome.
The Chart: This is a limited scope fib retracement, supporting the trend-based extension. I will regularly plot these for 6 pairs over the next 12 months in order to complete an backward looking analysis.
Dotted lines are based on Fib retracements plotted on the trend from 7/20/2017 to 9/12/2017. They indicate confluence of various Fib within said range.
Looking for a move above 0.0179. Expecting a min price of 0.023.
Thoughts, comments, critique welcome.
Note
Subsequent to the original post, BTC indeed broke 9k. One eye always in the direction of the OG. As I expected, OMG continued to advance against ETH and BTC. Plotting several Fib retracements and identifying confluence among them, provided a spot-on forecast of action around 0.0179. Pretty clean.
Will continue to gain. Not a straight line, but nonetheless, quickly. What one does with their position in OMG will depend upon, among other items, entry point or dca. I'll be hanging on for now.
Note
Closely watching resistance here (OMG, OMGETH) at 0.24. If we bounce off, I will exit. If not, then staying aboard the ship.
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