OMG profit potentials
Updated
OMG Network has been in a declining trend like most altcoins this summer, but is nearing the end of this pattern. With general sentiment in the cryptomarket turning bullish, we can expect plays like OMG to make gains against BTC sooner or later. In the case of OMG, it may take less then a month since we are at the end of a descending triangle.
Looking at previous OMG:BTC rallies, we can see they've been quite vertical and in the range of 100% to 200% profits. I believe a 100% profit sharp rally is very likely in the near future, possibly even more after some consolidation.
I believe this is a great time to get into OMG since the risk is fairly negligible and the rewards are quite significant. Remember to keep an eye on the overall market, as it will greatly influence what will happen to OMG, especially BTC dominance, which for now is in an uptrend.
Looking at previous OMG:BTC rallies, we can see they've been quite vertical and in the range of 100% to 200% profits. I believe a 100% profit sharp rally is very likely in the near future, possibly even more after some consolidation.
I believe this is a great time to get into OMG since the risk is fairly negligible and the rewards are quite significant. Remember to keep an eye on the overall market, as it will greatly influence what will happen to OMG, especially BTC dominance, which for now is in an uptrend.
Trade active
First target of 100% reached. It's been a much steadier climb then the vertical I had expected. Considering this, plus the fact that we are for the first time ever above the monthly MA on the OMG/BTC 5D chart and that OMG/USD is also looking very bullish, I believe we have a LOT more room to grow (Another 100% at least). It's definitely not too late to join this train. See you at over 4000 sats.
Trade closed: target reached
This is a good time to take profits. ~ 140% is not bad, and OMG is now becoming overextended. There may still be room to move up in the next 1-2 days, but judging by the overall market being down today, I would expect it to pull OMG down too. The possibility of a BTC pump, or dump is becoming high, which would both drag down OMG vs BTC at this point.
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