OMGUSD Squeeze Imminent
Without having a crystal ball to read the future, it's a fraught task. Why try? Money, that's why. OMG! Right?
Bollinger's are showing's our current levels are edging on the upper boundaries. The hand squeezes a little tighter. I like what I see though, as it seems often, a squeeze for OMG means we've only just begun our latest trek to the upside. August through November we were practically pinned to the upper levels. OMG xD. In April, May, Feb of 2021 we saw three cases where prices traded sideways for a week or two from this point, then dumped.
Anything can happen. Watch closely! Have cash on hand, and have your buy-limits set. $5.00 is a clear point where liquidity can be found, and would work towards building some clear chart patterns as well. All healthy, even if LONG trader's don't want to even think about a $5 OMG. We can go lower, depending on BTC and ETH's price behavior too.
We face clear resistance at $7. If we can break and turn back to support in the coming 1-2 weeks, I can imagine traders'd fill the liquidity gaps between 7 and 9 for a while, before moving out to recapture $10-13 levels. Volatility here will continue with it's usual madness. We might expect to see that full range in play over the coming weeks. $7 - $13. Keep it in mind as you're taking out your next leveraged order folks! :)
Bollinger's are showing's our current levels are edging on the upper boundaries. The hand squeezes a little tighter. I like what I see though, as it seems often, a squeeze for OMG means we've only just begun our latest trek to the upside. August through November we were practically pinned to the upper levels. OMG xD. In April, May, Feb of 2021 we saw three cases where prices traded sideways for a week or two from this point, then dumped.
Anything can happen. Watch closely! Have cash on hand, and have your buy-limits set. $5.00 is a clear point where liquidity can be found, and would work towards building some clear chart patterns as well. All healthy, even if LONG trader's don't want to even think about a $5 OMG. We can go lower, depending on BTC and ETH's price behavior too.
We face clear resistance at $7. If we can break and turn back to support in the coming 1-2 weeks, I can imagine traders'd fill the liquidity gaps between 7 and 9 for a while, before moving out to recapture $10-13 levels. Volatility here will continue with it's usual madness. We might expect to see that full range in play over the coming weeks. $7 - $13. Keep it in mind as you're taking out your next leveraged order folks! :)
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