OMGBTC trade ideas
✳️ OmiseGo New All-Time Low & 5 Years Long Bullish DivergenceOmiseGo vs Bitcoin (OMGBTC) peaked in September 2017 and it has been going down forever. This is understandable because Bitcoin has been going up forever. While OMGBTC can produce smaller and smaller bullish waves, these are still profitable because Bitcoin is normally growing at the same time and you get the multiplier effect.
I already explained the multiplier effect in the past so will not get into it today, but this is one of the main advantages of trading Altcoins vs Bitcoin, it is the only way to grow your Bitcoins if they are just sitting around waiting for the long-term.
The chart. OmiseGo vs Bitcoin .
We have a very steep descending channel which is breaking now as OMGBTC hits a new All-Time Low.
Once we hit bottom, the only place left to go is up.
The weekly RSI is at its lowest ever; oversold. One of the strongest bullish signals you can get.
Another massive bullish signal comes from the MACD, a 5 years long bullish divergence; you know the rest.
This whole setup can lead to a massive bull-market on this pair.
Easy I am seeing 222% but a bigger wave can happen that hits 10X or 1,000%. Now, this is massive on a Bitcoin pair.
We let time take care of the rest.
This analysis doesn't have to be right or wrong.
✔️ If prices drop and the setup fails, you have to define your own risk and stop-loss.
✔️ If it moves up, you have a winner and you also need a plan/strategy to sell on target; how much to sell at each target, how much to hold for how long and so on.
This is not financial advice.
The market can always surprise.
Thank you for your continued support.
Namaste.
✳️ OmiseGo Hits New All-Time Low, Good News!On the 19-Dec-2022 week OmiseGo hit a new All-Time Low vs Bitcoin (OMGBTC).
This ATL was hit at 0.00005794.
The previous All-Time Low happened early March 2020 at 6000 satoshis (0.00006000).
What followed this previous ATL was a 1,250% bullish wave.
Here is the chart:
That's why I believe hitting new lows is a piece of good news... Because we can't go any lower than the bottom or else it isn't the bottom... And once we hit bottom... You know what comes next.
Now the potential is there for OMGBTC to grow...
It can go lower who knows but once it takes off, we will have sustained long-term growth.
The risk is very low here, less than 10% for a stop-loss.
The upwards potential is huge...
Namaste.
OMG / BTC Informations part 2OMG has great momentum vs BTC . We are in a Altcoinseason , the first time in years. Don't underestimate the power of the Trends in crypto. But always take little porfits after such gains. I think it will go more up , but 1-5% profits are ok . Take in btc not $ . $ is out of the game for now.
Omisego in for a treatOmisego appears to break another downwards resistance trajectory.
The second time it broke out it went up by 200%, the first time by 120%! I put a potential resistance line for the next target should the pattern repeat itself.
There's a possibility for some retracement and a bit more sidewards trading. The latest for the breakout would be probably around mid December. However as it looks currently I would think it will most likely happen quite soon.
Also, it looks like OMG is going in waves on the RSI and shows us in what direction it most likely goes from here.
~700% above from previous top? Pump again?It seems ~90 passed between the previous pumps and from top to top the gains increased threefold.
We are halfway through, will this pump again?
Already happened few times, let's see, how this plays out
Good luck trying to catch OMGBTC's parabolic riseThe title says it all. OMGBTC is extending the parabolic rise it started in May, this time on an even more aggressive manner as just in August alone it has gained +500%!
It has even broken above the multi-year bearish trend-line of Lower Highs and the 1D RSI is on an Ascending Triangle.
Typically it is very difficult catching such aggressive rises, the MA50 won't be touched until the very peak. I believe the best shot we have entering this is once (if) contact is made with the 1D MA20 (yellow trend-line).
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