OMGBTC - Potential Uptrend AppearingThis is a follow up to my post about OMG's Head & Shoulder Pattern from 10/05/17. As you can see from my original post, OMG did reach target of .0012 (slightly below actually) and has since bounced pretty nicely, even reaching .00155BTC.
I'm not convinced we are in an uptrend yet. I still think we need a week or so to confirm. I'm of the belief we will see BTC reach 6,300 before the alts begin their resurgence. However, a couple things I will be keeping an eye on with regard to OMG:
1. Do not break new long term uptrend support line. If break, will trade between long term downtrend lines to about .001BTC with remote possibility of reaching .0005BTC if volume continues to decrease.
2. A close above the CCI zero barrier. This is the red line I'm pointing to with the arrow. A cross and close above this line will be my third and final indication that we are truly in an uptrend. This is the key factor I will be looking at. ***NOTE*** I typically wait a day or two for the CCI to close above the zero barrier multiple times as a reconfirmation of the uptrend.
Here's to going long!
