Long
OMG Network Ascending Triangle in Process
Hey all, Looking at the OMG chart we can see an ascending triangle with 3+ trendline touches to confirm the pattern. I've added two major trendlines to get a better idea of what to expect with OMG going forward. My thoughts are that we should confirm a breakout of the ascending triangle formation within the next day or two as of this chart posting, followed by some minor resistance around the 4.20-4.30 levels and then finally an upward movement towards the accumulation zone level of 5$, if we break above this level with volume and are able to hold it is likely that OMG will start its path to new local highs.
The prophecy is foretold the position is long.
Your friend
-Mystic
*not financial advice educational purposes only*
The prophecy is foretold the position is long.
Your friend
-Mystic
*not financial advice educational purposes only*
Note
Broke to the downside due to a double top formation on bitcoin, that i did not foresee i will learn from this experience and keep it in mind for the future.Bitcoin has formed multiple double tops followed by a slight correction before moving up to new ranges during this bull run and I am still thinking this will continue.
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Disclaimer
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.