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Omglong

Watch the reaction to this IMPORTANT support The current situation: 1. A descending triangle pattern is now more apparent with 53% chance of breaking upwards and the measured target is about 4.45 USD from the apex. But still, note that there is still a head and shoulders formation within the triangle, which is a predominantly bearish pattern. So far, the Fib level (gold line), 4 and 6HR 200MA have been acting as support but it was not strong enough to propel a break out to a new high. The 4HR 21MA is now approaching to the price action so in my opinion, the reaction to this moving average hitting the price action is very important since staying above the 21MA on a given timeframe is a bullish sign. The 4HR 21MA has also not been touched since the breakout back at 3.1 USD. 2. Do look out for possible bearish divergence from the last high created on the RSI, especially on the 1, 4 and 6HR harts as their last highs did create an overbought reading on the RSI. The bullish case: price action bounces off the 21MA and breaks the triangle. An hourly close above 4.25USD would convincingly invalidate the head and shoulders pattern to me. The bearish case: a close below the 21MA on the 4HR chart as the next level of support would be the downward-sloping 4HR 200MA currently at 3.75USD *Thank you to those who donated, I very much appreciate it. *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.
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by CryptoRush_
7
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.
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by CryptoRush_
9
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.
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by CryptoRush_
4
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
OMG go go go ... have we had our final low of the year ??? OMG really is an amazing project and they have stayed off the radar and -- been very quiet in the bear market - they don't announce things unless necessary .... but they working behind scenes like crazy .... and things are really developing -- it certainly has come down a long way as of today feb 13th 2019 OmiseGO Price $1.14 USD Market Rank #30 Market Cap $159,863,939 USD 24h Volume $32,824,454 USD Circulating Supply 140,245,398 OMG Total Supply 140,245,398 OMG Max Supply No Data Yesterday's Open / Close $1.15 USD / $1.16 USD Yesterday's High / Low $1.17 USD / $1.13 USD Yesterday's Change +0.005634 USD (+0.49%) Yesterday's Volume $35,769,001 USD 2019 -- lets stay above 300 sats and move up up and away ! the team is strong and deep ! fresh off amazing presentations at binance week last month ! they are currently still hiring and have been during entire bear market !!! The new year started off strong with a new iteration of the internal testnet -- they call it PLASMA they have become transparent in every way -- they now publicly show all internal wallets and funds -- so we see everything that goes on behind scenes (a solid team that used the funds wise) - "Ewallet" and "moreVP" both in action .... - exploration into possible technology applications with ShinhanCard has borne fruit. After months of collaboration with OmiseGO, the Korean Finance conglomerate demonstrates a cross-border PoC with the aim to expand the acceptance of ShinhanCard’s loyalty program to international markets and enable borderless interoperability - ****** This demonstration shows the first ShinhanCard transaction using OmiseGO ******** if we can keep above 300 sats .. and start our trend to 450 sats and then 600 sats and beyond ! if you would like to start accumulating here its a good place but no confirmation yet so please keep tight stop loss -- maybe about 288 sats ... still have a few days before you need to purchase -- we will go down a drop but will pop back up as the RSI adjusts .... right as I post we heading down a drop -- but should remain above 310 namaste
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by invisiblefriend
3