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OMGUSD

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
OMGUSD: V-shape recovery BUY/HOLD 150%+ gains (SL/TP)(NEW) Why get subbed to to me on Tradingview? -TOP author on TradingView -15+ years experience in markets -Professional chart break downs -Supply/Demand Zones -TD9 counts / combo review -Key S/R levels -No junk on my charts -Frequent updates -Covering FX/crypto/US stocks -24/7 uptime so constant updates OMGUSD: V-shape recovery BUY/HOLD 150%+ gains (SL/TP)(NEW) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage. Tagged as SHORT because I expect more short-term losses before reversal / BULLS later. 🔸 Summary and potential trade setup ::: OMGUSD 16hour/candle chart review/outlook ::: tagged SHORT because it's BEARISH short-term ::: mid/long-term SUPER BULLISH OUTLOOK ::: super strong chart bullish outlook ::: short-term more downside expected ::: V-shape recovery will start soon ::: 20-30% downside from here possible ::: to complete the bear sequence now ::: BULLS should get ready to BUY DIPS ::: we are setting up for a strong move ::: within next few weeks max ::: recommended strategy: BUY LOW 2.50/2.70 ::: TP BULLS is 150%/200% gains ::: SWING trade setup / no fast gains here ::: BUY/HOLD / do not expect miracle gains ::: SL is 20% max ::: good luck traders! 🔸 Supply/Demand Zones ::: N/A ::: N/A 🔸 Other noteworthy technicals/fundies ::: TD9/Combo update: N/A ::: Sentiment mid-term: BULLS/PRZ/REVERSAL ::: Sentiment outlook short-term: BEARS
OShort
by ProjectSyndicate
6
OMGUSD Trade setupHello everyone, I know this is different from my usual style of trading, but I figured that since I am doing so well in the stock and currency markets, I would like to test my skills in the Crypto markets, A.K.A the wild west. Fun fact, crypto is what brought my into technical analysis, so it holds a special place in my heart, but it has been a year since I've touched it so forgive me if I'm a little out of sync with the market. Elliottwave analysis: I strongly believe that we are in the last wave of a 5 wave move to the downside. As you can see from my chart, we have made a very impulsive move to the downside, the wave three rebounding almost perfectly off of the 1.63. This perfect rebound is something to take note of for future charting. I am curious to see if crypto will bounce off of the technical resistances a lot more accurately than a stock. In addition to this, we are contained in a BEAUTIFUL channel. I am aiming for the 2.0 extension of the wave 1 which is conveniently the 0.5 extension of the waves 1-3-4. Moving average analysis: On the thirty minute, take notice of how the 4th wave seems to have bounced hard off of the 200ema. This leads me to believe that we are still not done our move to the downside, and it likely marks the end of the wave 4. In addition, take into account how on the 30 minute, the 55 ema is crossing over the 200 ema, which is a huge bearish sign. Macd analysis: The macd is really testing me for this trade. I can see that on the one hour, although it hasn't crossed their is some bullish divergence on the histogram, indicating a cross might be on its way. Although, I strongly trust my wave count for this coin, and that we will see a rebound off of the 14 moving average for the macd. RSI analysis: The RSI isn't telling me a bearish or a bullish story. Right now it is in bearish territory, but there is nothing that screams bearish. Judging by the 45 minute, I think that we will see the fifth wave down, but this will show us some bullish divergence, meaning that the rsi probably won't go below the previous low. If the divergence does appear as we hit the wave 5, I immediately recommend taking a position to the top side. All in all, the trade setup is as mentioned: Target: 3.6069 Stop loss: 3.81 R:R is 3.04!!!
BITFINEX:OMGUSDShort
by Mika_k
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