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OMG! - Ride that upward trend channel for OmisegoA relatively straightforward piece on request of a reader/follower. OMG has switched from one upward trend channel to another, like missing a step on a ladder but still going to the attic. You can also compare it a little bit to the typical pitchfork analysis and we are now in the lower end of that upward pitchfork. - Given that volume is rather low , I expect this trend channel 2 to hold and hence that we will not move to the previous trend channel 1. - Moreover, we are testing the 38,2 Fibonacci level with current price and this is also more or less the upper resistance of this channel. If we can’t break it, which is the most likely scenario, we will retrace back a little, but I don’t think it will go back more than the lower resistance line of this channel. - We are seeing some overboughtness in the CCI, and have just made a bullish cross in the MACD. I believe the upward momentum remains intact but it should not get ahead of itself, so do expect some red candles too in this channel. And the trend is your friend, so no need to get out of your position here unless something dramatically changes. - Now: if we look at the 2h chart, we see a death cross in the MACD, negative pull in the CCI and the candles bending as well, so we can expect downward movement right now in the very short term. - If we look at the 4-hourly, it is still a bit in the making. Conclusion: expect some up and downs in this trend channel, but the trend remains your friend for the moment – nothing more than that! Resistance levels & targets are shown in the chart: - Upper trend line of the current channel - 38,2% Fibonacci at 195877 - 50% Fibonacci at 221670 Support: - Lower trend line of the current channel - The yellow line at 181405 - Red Fibonacci support
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by A_Cryptastic_Mind
2
Exchanges got hacked again?! people are rushing to DEXNice risk reward trade technically, but this time I am going to throw you some backgrounds behind first. Ever since 2013 the infamous hack, people are starting to realize that centralized exchanges are huge risk both for us and the whole cryptocurrency market. We then experienced hack but fortunately that didn't drive them out of business, instead, they issued tokens and relieved. And, here we are, as Forbes reported 'Crypto-Heist': Coincheck Hack Could Be The World's Biggest Ever Cryptocurrency Theft bit.ly 534million worth of NEM 0.41% gone in a matter of seconds. Just earlier today, 10 Jan 2018, We have ANOTHER!!!!! The wall street journal reports, Cryptocurrency Worth $170 Million Missing From Italian Exchange on.wsj.com 170million worth of NANO 3.91% this time. ALL OF THE ABOVE will force people to look for DEX( decentralized exchanges), such as #ico-neonexchange- * $OMG * $KNC * $BTS * BNT -1.79% I'm going to allocate 30% of my portfolio into this space. ***Disclaimer*** This is just a personal opinion, NOT financial advice.
OLong
by JoE
OMG! OMISEGO GO GO GO! OMGBTC OMGUSDGreat chart formations on the OmiseGo markets. Buyers that would like to speculate on the OMGBTC market will have to make p their minds soon. We have a very nice bull flag forming here and we can see that the market has made a very nice cup on the 1 Day candles. These kind of situations usually lead to very nice breakout trades on the crypto markets. We can see the price moving between the support and resistance as it is correcting before the next move up. Unless we see some major BAD Fundamental News for OMGBTC, this might be the last time see these prices. On the bear side should support fail we will most likely see a very nice bounce back into the support zone. Safe trades. Be sure to join the Best Crypto Hangout for free
OLong
by MrHanna
$OMG - Accumulation Periodit's time to start accumulating $OMG OMG has been holding up great support even with BTC's bullish runs. -With higher lows, slowing climbing the bottom of the support trend line. -I drew out the projections of the EMA 20 & EMA 55. on the 1 Day chart. -When both EMA's cross, it will be a confirmation for a new bullish trend. First targets are marked as resistance, currently sitting on the buy area. . Practice safe swing trading within the ascending triangle. chinatown price line marked in chart.
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by Kenjin_Tanoshii
5