OMGBTC trade ideas
OMGBTC to rise or not?OMGBTC seems to be in a predicament now. There's no buying pressure that will push the price above the downtrend slope. If it breaks above it, then we can retest the all time high. If not, we could go back to support around 150000.
Looking at market depth, selling side is a little thicker than the buy side. I don't see a good signal to enter yet. Probably when it dips to support, that's when I'll reenter again.
OMGBTV- 4hr plan - mean reversionOMG - this is a good set-up for long trades - looking for retracement level of 50% or mean reversion and a confluence of good support to enter long and looking for a HH. I will be looking for a candle pattern (reversal) or a 1-2-3 on hourly chart to mitigate my risk. Then I will take profit at the overlapping extention of the two swings. A good risk/reward trade.
OMGBTC Decision point!Looking at the market depth, there's a huge resistance wall in the current prices. When it goes up to the supply zone (rectangle) and stays there for quite sometime, then watch out for a pump in volume. When that occurs, buy OMG.
I'll be updating the TP targets when the supply zone is broken.
OMG, Pennants patternWe have a nice pennants pattern in an upward trend wich to me indicates that we are going soon.
RSI looks to be turning soon and from there we should go.
When we break out of the pennant i have my target and sellzone set.
Really excited to see were this goes.
Do you see something else? Please share.