OSMOBTC
OSMO/USD - One more leg down then FOMO time! 🚀As predicted in my last idea, OSMO continued down for some time and now it would appear we are about to complete a five wave correction.
Price completed wave 4 and is falling on wave 5. Once done, OSMO could have a nice recovery.
The indicators should also curve up nicely once we bottom on the last leg.
Buying under $8 seem like a good idea based on this chart. NFA.
I'd not jump just yet, give it a bit of time, but chart is promising.
Like and follow if you liked my idea!
OSMO/USD - Bearish price action continues. Support at $8! 🙄Osmosis, an exchange token on the Cosmos ecosystem had a great pump in early 2022, but that quickly faded.
OSMO could not sustain the uptrend and in March fell below a key ascending trendline which was re-tested as resistance = BEARISH! See yellow circle.
For this reason, do not FOMO into OSMO. It can easily drop to $8 before any sustained recovery.
To turn bullish, OSMO has to turn the descending resistance trendline into support. Otherwise, expect lower lows as price searches for support.
The indicators and volume are also not looking sexy and are rather bearish.
Bias is bearish. This is supported by the price action and indicators.
Seems some market participants are stuck in the past when OSMO pumped hard, but this chart gives no such indications now.
Reality check is important. Wait for a clear break before FOMOing.
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