OMGUSD - Short Term Reversal Possible
Updated
Pretty simple analysis with clear channels forming in several short term patterns.
Purple (LONG) - Signifies steady long growth
--Breaks out officially on 11/27/17.
Green (MID) - Signifies an increased growth rate compared to the long trend rate
--Breaks out officially on 12/4/17.
--Recedes back into Green channel on the next day, 12/5/17.
Yellow (SHORT) - Signifies an even further increase in growth rate compared to long and mid term rates
--Break out (potential) between 4-10 days IFF one of the following conditions are met:
1) Green channel lower limit is not broken by any decline
2) Yellow channel upper limit is tested above its current threshold
3) Steady positive growth follows the decline today (12/6/17), and the Purple channel upper limit remains a general price line.
I don't follow OMG too much, but their Fiat value is impressive.
I have a stake at ~$8.50 USD/OMG, but I try not to be biased/emotional in my decision-making.
As always, be responsible with your Altcoin trading as it is a degree--or several degrees--above BTC HODLing and other base currency HODLing.
Cheers All,
-Jordan
P.S. My bet is that OMG will hover in the Green channel for some time longer (until we flirt with the $15 USD mark).
Purple (LONG) - Signifies steady long growth
--Breaks out officially on 11/27/17.
Green (MID) - Signifies an increased growth rate compared to the long trend rate
--Breaks out officially on 12/4/17.
--Recedes back into Green channel on the next day, 12/5/17.
Yellow (SHORT) - Signifies an even further increase in growth rate compared to long and mid term rates
--Break out (potential) between 4-10 days IFF one of the following conditions are met:
1) Green channel lower limit is not broken by any decline
2) Yellow channel upper limit is tested above its current threshold
3) Steady positive growth follows the decline today (12/6/17), and the Purple channel upper limit remains a general price line.
I don't follow OMG too much, but their Fiat value is impressive.
I have a stake at ~$8.50 USD/OMG, but I try not to be biased/emotional in my decision-making.
As always, be responsible with your Altcoin trading as it is a degree--or several degrees--above BTC HODLing and other base currency HODLing.
Cheers All,
-Jordan
P.S. My bet is that OMG will hover in the Green channel for some time longer (until we flirt with the $15 USD mark).
Note
P.P.S. I forgot to state the obvious. If we end up under the Green channel and don't proceed back into the Green channel the immediately following day, we will likely settle back into the Purple channel.
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