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Omisego

OmiseGO correcting, then ready for the next run!OMG has proven to be an AAA cryptocurrency since the very beginning. Strong fundamentals, real use-case, great team behind it. The price couldn't do anything but keep growing. Now for the first time, we're witnessing a correction. Corrections on AAA coins are great buy opportunities, the old wise man said. So, I'm ready to jump on OMG if it bounces the dynamic support in the 170-180k sats zone with an oversold RSI, with 3 targets in my mind: Bronze: 210k sats Silver: 255k sats Gold: 290k sats Don't tell anyone, but if BTC scenario gets less confusing (= it consolidates or starts another slow rise), I'll go for the gold!! Happy trading everyone!
by lukescream
1
OmiseGo September 21 - LongLooking on a 4 hour chart, we see a head and shoulder pattern forming with a clearly visible neckline as the support. Omisego has been in turmoil these past few weeks, ranging from $6.70 to $13.70. It's evident a retracement and correction is overdue. Despite the oversold conditions and RSI reaching under 30 on all charts up to 3 hours, due to bitcoin dropping further, It's possible to see further declines today. Based on the head and shoulders formation on the 4 hour chart, further declines may reach $6.10. On the one hour chart, two breaklines are crucial to maintain with 2 cases possibly. Case 1) A bounce of $7.16 and a retracement up to $9.33 Case 2) A bounce off $6.10 and a retracement up to $8.70 Watch for these bounces and a smart move long would be wise. Currently as we stand, a short position may have been missed. Though possible short positions can be entered if 5 and 15 minute RSI reaches a peak and shows decline with less strength / momentum.
BITFINEX:OMGUSDLong
by philakone
2