OMGUSD trade ideas
OMGUSD strong but needs retrace? OmiseGo resistance zones aheadOmiseGo finally took off, a bit behind its peers.
Two strong waves up, but might close to a retrace.
Three Red zones to watch as price approaches them.
This is an update to my longer term bullish outlook, after looking for a 1.1-1.2 bounce per this plan
OMGUSD retrace watch: OmiseGo 1.284 critical 1.200 likelyOMG shot upwards with rest of crypto market.
It was a most bullish Alts, reaching 13.764 fib.
It of course unwound most of the vertical leg.
$1.284 is critical support as was recently proven.
Break below should see acceleration to next zone.
$1.20x is bull's last stand, next support is 1.125-1.120.
The making of this chart :
Staring with small time frame view of the drop. Perfect 4.236 extension, implying ONE wave, perhaps A of ABC:
Zooming out to see the bull move upwards. Perfect 13.764 extension, one of the highest of all coins:
Zooming out more to last January drop. Another x.764 series with 4.764 being the bottom.
Overlaying the three fibs and noting confluences we have certain bands of interest:
