A look at OMISEGO vs USD Bitfinex Sept.25th
Lately, i have been thinking to myself, why do i even look into charting ALTS, every time, an Altcoin chart looks bullish and i try to call the trade, Bitcoin dumps and ruins everything or the other way around. :(
So, i have decided to look more into BTC and only look into ALTS to find patterns and setup targets knowing for almost 100% that it will follow Bitcoin.
Lets take a look at Omisego. One of my favorite Alt coins, although i'm not in love in any investment, i am long since 1.60 USD so, yeah i have to say i'm pretty biased.
Today they have officially announced their partnership with McDonalds Thailand, processing their payments through the Ethereum Network.
omise.co/omise-partners-with-mcdonalds-thailand-to-provide-seamless-payment-experience-for-online-and-mobile-orders
Some notes:
1.The Symmetrical triangle forming on the Daily could most possibly breakdown on a continuation of a BTC-USD down trend, with a target around 5.20- 5.40 USD at the 0.61 fib line from the rally starting in July. Price is expected to bounce at that area. SL is recommended around above the red resistance line at 8.83 USD .
2. On the Symmetrical triangle break upwards into new ATH- considering BTC 's recovery up- Omg can gain momentum. The target is set to be around 15.00-15.25 USD with a SL right under the support line at 10.08 USD.
3. 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.
4. There is a possible Head and Shoulders forming. While price should complete the right shoulder between 7.40-7.50 for this pattern to be completed we are expecting Bitcoin to resume its downtrend. Once price is below 7.40 i am expecting a 2.75 usd drop to 4.65 usd.
5. We have our numerical indicator turning green with an bullish engulfing candle.
So, i have decided to look more into BTC and only look into ALTS to find patterns and setup targets knowing for almost 100% that it will follow Bitcoin.
Lets take a look at Omisego. One of my favorite Alt coins, although i'm not in love in any investment, i am long since 1.60 USD so, yeah i have to say i'm pretty biased.
Today they have officially announced their partnership with McDonalds Thailand, processing their payments through the Ethereum Network.
omise.co/omise-partners-with-mcdonalds-thailand-to-provide-seamless-payment-experience-for-online-and-mobile-orders
Some notes:
1.The Symmetrical triangle forming on the Daily could most possibly breakdown on a continuation of a BTC-USD down trend, with a target around 5.20- 5.40 USD at the 0.61 fib line from the rally starting in July. Price is expected to bounce at that area. SL is recommended around above the red resistance line at 8.83 USD .
2. On the Symmetrical triangle break upwards into new ATH- considering BTC 's recovery up- Omg can gain momentum. The target is set to be around 15.00-15.25 USD with a SL right under the support line at 10.08 USD.
3. 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.
4. There is a possible Head and Shoulders forming. While price should complete the right shoulder between 7.40-7.50 for this pattern to be completed we are expecting Bitcoin to resume its downtrend. Once price is below 7.40 i am expecting a 2.75 usd drop to 4.65 usd.
5. We have our numerical indicator turning green with an bullish engulfing candle.
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