OMGBTC - Sitting.Waiting.Wishing? UPDATE!
Updated
I've taken a look at OMG in the past, a coin with huge potential in my opinion. Looking good today, but we might still have a bit to wait
Yeah it's a Jack Johnson reference in the title. Deal with it.
We're testing the upper resistance of the downward channel it's been on for some time. Heading back down towards a retest of the historic support zone , a clear area of high liquidity historically.
INDICATORS
MACD looks to be heading into a bullish cross from bear territory. Divergence shrinking.
Stoch on the uptick but not overbought.
Volume big spike on the recent resistance retest and bounce down. Since then, big drop .
EMA we're bouncing off EMA 100 as the top of the current support level . We've seen this behavior in bullish cycles in the past.
OVERALL THOUGHTS:
Top resistance is still strong, as seen from the recent retest posting massive volume on the bounce down. But otherwise, indicators are looking rather bullish .
Expect a retest of bottom support. Keep and eye on where it lands, if we get a higher low on the retest than previous, I think it's safe to say there's a good amount of bullishness waiting to go.
Updated the TP's slightly. I'm guessing we could hit upwards of fib 1.618, or .0012 on the long term. But that's a very long term target. Zoom out if you want to see it and stuff.
If you want short term target, hit it on the bounce down with a tight SL below the current support area . TP would be the peak of the current support area , marked in teal.
--
“The truth knocks on the door and you say, "Go away, I'm looking for the truth," and so it goes away. Puzzling.” - Robert M. Pirsig, Zen and the Art of Motorcycle Maintenance
--
I'm a guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
If you like my analysis, then leave a like and feel free to follow for more free content. Feedback, criticism and crude humor are welcome :)
Yeah it's a Jack Johnson reference in the title. Deal with it.
We're testing the upper resistance of the downward channel it's been on for some time. Heading back down towards a retest of the historic support zone , a clear area of high liquidity historically.
INDICATORS
MACD looks to be heading into a bullish cross from bear territory. Divergence shrinking.
Stoch on the uptick but not overbought.
Volume big spike on the recent resistance retest and bounce down. Since then, big drop .
EMA we're bouncing off EMA 100 as the top of the current support level . We've seen this behavior in bullish cycles in the past.
OVERALL THOUGHTS:
Top resistance is still strong, as seen from the recent retest posting massive volume on the bounce down. But otherwise, indicators are looking rather bullish .
Expect a retest of bottom support. Keep and eye on where it lands, if we get a higher low on the retest than previous, I think it's safe to say there's a good amount of bullishness waiting to go.
Updated the TP's slightly. I'm guessing we could hit upwards of fib 1.618, or .0012 on the long term. But that's a very long term target. Zoom out if you want to see it and stuff.
If you want short term target, hit it on the bounce down with a tight SL below the current support area . TP would be the peak of the current support area , marked in teal.
--
“The truth knocks on the door and you say, "Go away, I'm looking for the truth," and so it goes away. Puzzling.” - Robert M. Pirsig, Zen and the Art of Motorcycle Maintenance
--
I'm a guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
If you like my analysis, then leave a like and feel free to follow for more free content. Feedback, criticism and crude humor are welcome :)
Note
👨🏽🚀👨🏽🚀👨🏽🚀 HE'S A ROCKET MANNote
Rounding up from the fib have boned my first big TP hahaha. We will see. That's real close though.Note
Got a hit :) TP #1 +34%
Come hang out with me on telegram, it's free and I won't be too mean too mean to you:
t.me/KadnimCrypto
t.me/KadnimCrypto
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