We had previously engaged with the Osmosis and experienced tremendous success, exceeding 350%. However, currently, the chart appears indecipherable, impeding our ability to determine a clear direction.
The coin has not exhibited significant movement amidst recent strong Bitcoin increases, and it has remained unaffected during correction periods, casting doubt on the presence of buying power or even selling interest, especially with many network users recently stacking.
Technically, upon examining the daily chart, we observe what resembles a bearish flag, although it seems like a fake-out.
We could consider entering a trade based on this analysis, discounting slightly from the current price, while maintaining an undisputed stop-loss.
Looking at the two-day chart, the situation worsens with a semi-confirmed bearish pennant, indicating a strong downward movement, at least towards previous strong accumulation zones.
Personally, I prefer to wait for confirmation or for a strong corrective candle before jumping in.
In the event of another descent to the indicated accumulation zones on the chart, I don't believe we should miss this opportunity again.
Best of luck.
The coin has not exhibited significant movement amidst recent strong Bitcoin increases, and it has remained unaffected during correction periods, casting doubt on the presence of buying power or even selling interest, especially with many network users recently stacking.
Technically, upon examining the daily chart, we observe what resembles a bearish flag, although it seems like a fake-out.
We could consider entering a trade based on this analysis, discounting slightly from the current price, while maintaining an undisputed stop-loss.
Looking at the two-day chart, the situation worsens with a semi-confirmed bearish pennant, indicating a strong downward movement, at least towards previous strong accumulation zones.
Personally, I prefer to wait for confirmation or for a strong corrective candle before jumping in.
In the event of another descent to the indicated accumulation zones on the chart, I don't believe we should miss this opportunity again.
Best of luck.
Note
The bearish scenario is ON
waiting patiently for the strong accumulation/support zone
Trade active
Started to reaccumulate OOSMO here, expecting a strong bullish wave soon.
Trade active
Osmo still respecting its accumulation & support area
Once we breakout we will have an impulsive wave ISA.
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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.
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.