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OMG

Bearish pattern looking more apparent will it break down?The current situation: 1. Previously, it looked like price action had an ascending triangle pattern going, which was a bullish pattern. Currently, it is starting to look more like a head and shoulders pattern, a bearish pattern. The rather ambiguous neckline, which is also the gold line and a Fib level, is at about 3.9 USD and is the current support. The measured target of the pattern is at about 3.4 USD and there are several moving averages at about the 3.8 USD level that can act as support between the breakdown below the neckline and the measured target. 2. There was a RSI reading of about 77 on the 6HR chart for the last high made, so possible bearish divergence may occur if the next high made creates an equal or lower RSI reading and can prompt a pullback. The bullish case: 1. If the price action holds above the neckline and retest the 4.35 USD level, which can still validate the ascending triangle pattern while negating the head and shoulders pattern. OR 2. If the price action breaks below the neckline and bounces off one of the moving averages at about 3.8 USD currently to retest the 4.35 level, which also negates the the breakout of the head and shoulders pattern. The bearish case: price action breaks below the neckline and does not bounce off one of the moving averages at about 3.8 USD. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
O
by CryptoRush_
9
OMG. 12h. We don't believe in OMG above $5. Our target is $1.8.While $BTC price was growing hard , OMG used a chance and made a minimal correction after such a strong 4X fall. The final boundary of the correction can be one of three levels: 4.25 - a false breakout so far 4.65 - almost reached him 4.95 - we don't believe in growth above this level. Those who entered the long near $3 - it's time to place orders and take profit. Those who bought on highs, it's time to think about fixing the loss. It is not a fact whether it will be allowed to do above $5 in the next few months. _______________________________ Since 2016 , we have been analyzing and trading the cryptocurrency market. We transform our knowledge, trading moods and experience into ideas. Each " like under the idea" boosts the level of our happiness by 0.05% . If we help you to be calmer and richer - help us to be happier :)
OShort
by P_S_trade
10
Will this bounce and continue?The current situation: 1. Price action has ran up to about 4.3 USD today and now has formed a head and shoulders, a bearish pattern, on the 15M chart. The neckline of the pattern is about 3.95, which the price action has now broken below and the measured target is about 3.6, which is about where the 1HR moving average is. The 4 and 6HR 200MA are at about 3.8 currently and can be resistance once price action closes below it. 2. RSI was just or is still overbought on the 1, 4 and 6HR charts. So possible bearish divergence may still occur even if the price action makes an equal or higher high. In that case, another pullback may be expected after. The (short-term) bullish case: price action bounces off the 1HR 21MA and retest the previous high of about 4.3 USD The bearish case: price action does not get a strong bounce at the 1HR 21MA and continues falling. Either of these are VERY risky moves to get in on. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
O
by CryptoRush_
4
OMGBTC formed another bullish reversal moveHey, friends hope you are well and welcome to the new update on OMG token. Recently the price action of OMG has started the correction rally after a massive bullish wave of more than 1000%. So in today's post, we will try to understand that whether is this a really correction rally for the price action will move more down. Is this a breakout or fake out: Since 3rd week of August 2020 the priceline of OMG token started moving within the down channel. We can see several touches at the support and on the resistance as well. Finally on 11 September the price action broke out the resistance of the channel. I've also placed the volume profile indicator on the complete priceline moving within this down channel. It can be clearly observed that as per volume profile trader’s interest was very weak at the support of the channel. Even the trader's interest went above the resistance of the channel that was a very clear signal for the break out. We can also see the point of control of the volume profile at a very high distance from the resistance of the channel that can pull the priceline up very soon. Now the price action is likely to move down to re-test the previous resistance of the channel as a support but I am expecting that the price action will again enter in the channel and there is a very strong reason behind this thinking and that is the expected harmonic move. The priceline has broken down the 1st SMA support: After placing the different simple moving averages with the time period of 25, 50 and 100 it can be easily seen that the price action has also broken down the 25 simple moving average. Now price action of OMG is moving between the 25 and 50 SMAs. If the 50 simple moving average will be broken down then we also have the 100 simple moving average strong support below the 50 SMA. Harmonic BAT move: There are strong chances that the price action will use the 50 simple moving average as a support and to do so the priceline of OmiseGo will move more down. Because if we take a closer look at the chart then it can be clearly seen that the price action is likely to complete the final leg of the bullish BAT pattern on the daily chart. After initial X to A leg the price action is retraced between 0.382 to 0.50 retracement level then candlesticks are projected between 0.382 to 0.886 Fibonacci projection of A to B leg this is the second confirmation for the bullish BAT. Now the price action can retrace between 0.786 to 0.886 Fibonacci retracement level for the completion of this bullish BAT move. According to some trading experts, the potential reversal zone of the bullish BAT can be started from 0.618 Fibonacci retracement level. Therefore according to this theory if the price action will be moved up from this level where it moving at the moment even then the bullish BAT will not be invalidated. Because so far the priceline has retraced up to 0.724 Fibonacci that is more than 0.618 Fibonacci level. A big bullish Shark move and it’s buying and sell targets: At the end I would like to recall a very big bullish Shark move that has been completed by the priceline of OMG token. I posted the below pattern last year in April 2019. Now finally the price action is gearing up from the potential reversal zone of bullish Shark and as per Fibonacci sequence of this pattern the buying and sell targets are as below: Buy between: 0.000604 to 0.000230 btc Sell between: 0.001079 to 0.001977 btc Conclusion: On the long-term the price action of OMG token has formed a very big harmonic move and has the potential to produce more than 750% bullish rally. However, on the short term the price action can move little bit more down for the completion of the bullish BAT. Therefore we can use the potential reversal zone of bullish BAT on the short term as our stop loss.
OLong
by moon333
1
OMG.USDT (Y20.P4.E1).TA on the Macro structureHi All, Keeping it short as its only the planning phase. Planning ahead, and hence stalking for the best options if or when they available. Note: a few key point; a) previous high has confluence with the trend line target area as support; b) RSI hidden bullish divergence in the making like previously; c) Stochastic looking for a bounce for the short term; d) OMG gave good returns and is likely to do so at least 1 more time. One should not be confident what took place would mean it will do it again. Please give me a like or tick for this post Cheers, S.Sari Possible scenario, daily chart Macro overview
OLong
by ssari
1