🥚 OmiseGO - C&H, handle breakout
Updated
The price has formed Cup and Handle pattern on higher timeframes, resistance of handle has been broken, and the price is now heading down to retest the upper trendline as support.
Entry: buy in one of the buy zones (green boxes) there are a lot of ways to approach this.
- buy full position size now(current price) / or start scaling in
- buy once 15.39 is claimed on a local pullback if given / or add more
- buy once ath level is claimed on a local pullback if given / or add more
- buy if the price falls back down to the formation and reaches its bottom
Targets (will be adjusted as the time goes)
18.01
22.11
28.43
34.64
38.65
48.07
55.84
-----------------------------
About OMG:
OMG Network, formerly known as OmiseGo, is a non-custodial, layer-2 scaling solution built for the Ethereum blockchain. As an Ethereum scaling solution, OMG Network is designed to allow users to transfer ETH and ERC20 tokens significantly faster and cheaper than when transacting directly on the Ethereum network.
The network is based on a novel scaling solution called MoreViable Plasma, which uses a sidechain architecture to group several transactions off-chain into a batch, which can then be verified as a single transaction on the Ethereum root chain. According to OMG Network, this technology has the potential to scale Ethereum to thousands of transactions per second (TPS) — instead of the 10 to 14 tps Ethereum 1.0 is currently capable of.
Source: coinmarketcap
Entry: buy in one of the buy zones (green boxes) there are a lot of ways to approach this.
- buy full position size now(current price) / or start scaling in
- buy once 15.39 is claimed on a local pullback if given / or add more
- buy once ath level is claimed on a local pullback if given / or add more
- buy if the price falls back down to the formation and reaches its bottom
Targets (will be adjusted as the time goes)
18.01
22.11
28.43
34.64
38.65
48.07
55.84
-----------------------------
About OMG:
OMG Network, formerly known as OmiseGo, is a non-custodial, layer-2 scaling solution built for the Ethereum blockchain. As an Ethereum scaling solution, OMG Network is designed to allow users to transfer ETH and ERC20 tokens significantly faster and cheaper than when transacting directly on the Ethereum network.
The network is based on a novel scaling solution called MoreViable Plasma, which uses a sidechain architecture to group several transactions off-chain into a batch, which can then be verified as a single transaction on the Ethereum root chain. According to OMG Network, this technology has the potential to scale Ethereum to thousands of transactions per second (TPS) — instead of the 10 to 14 tps Ethereum 1.0 is currently capable of.
Source: coinmarketcap
Note
update:!! -- IMPORTANT -- !!
"The BBOBA token will be airdropped to OMG token holders as of the snapshot date of November 12th, 2021 on a 1:1 basis (for every one OOMG, token holders will receive one BBOBA). The snapshot for the airdrop will take place at the first Ethereum (L1) block with a timestamp greater than or equal to 2021-11-12 00:00 (UTC)"
^ watch out for this event, a lot of people may start selling their coins once the snapshot is taken
Note
update 11/11/21:The airdrop event takes place today (tomorrow 00:00 UTC). Remember to manage your risk properly. Although the price is pumping now, the sell-off might be huge.
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