OMG swing trade idea
OMG/ETH and OMG/BTC show similar trends.
RSI, MACD look promising.
VFI still in the bear territory - not much buying yet.
I wonder if/when it gets a volume spike. So far slowly grinding up.
Use a tight stop in case the bear scenario plays out. Although my bet is on bulls. The bear scenario isn't bad either - just stop out, wait for the double bottom, rebuy.
If it goes up, the previous resistance seems like a good target - it was tripple tested in the last cycle. In that case, probably three waves up, maybe four (forth being double top?)
Empty volume nodes above previous top level, so if it bursts above, it could fly very fast.
Fundamentally, OMG is strong in Asia. It has good adoption there. I'd say good long-term candidate.
Plus, the ticker is nice ;)
RSI, MACD look promising.
VFI still in the bear territory - not much buying yet.
I wonder if/when it gets a volume spike. So far slowly grinding up.
Use a tight stop in case the bear scenario plays out. Although my bet is on bulls. The bear scenario isn't bad either - just stop out, wait for the double bottom, rebuy.
If it goes up, the previous resistance seems like a good target - it was tripple tested in the last cycle. In that case, probably three waves up, maybe four (forth being double top?)
Empty volume nodes above previous top level, so if it bursts above, it could fly very fast.
Fundamentally, OMG is strong in Asia. It has good adoption there. I'd say good long-term candidate.
Plus, the ticker is nice ;)
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