OMG seems to be bouncing from the lower trendine. If there is enough power behind this bounce, we might break through the blue trendline immediatly, but I think a retest of the trendline is more reasonable. That would be an optimal entry point I think, before OMG breaks througha nd goes for a next leg.
Note
Setup still valid. OMG is constantly testing the lower trendline (is drawn horizontal now) and the upper trendline.Trade active
Also noticing this major bullish divergence on the RSI. If the RSI breaks the blue upper trendline, that would confirm a breakout I think.Note
Trade closed: stop reached
OMG tried repeatedly to break the blue trendline, but failed each time and in the end I got stopped out during btc bull run.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.