OMGBTC trade ideas
Dropped below support but possible bull trap comingWell, not "Bull Trap" in a traditional sense because OMGBTC follows such an unusual pattern.
Short term gains to resistance level at roughly 260k satoshis seems increasingly likely.
Once it retraces and wanders through that 5th fib level for a bit (7-14 days,) we may likely see a continuation of the downward trend until it corrects to third fib level at 140k to 170k Satoshis.
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OMG Pair AnalysisOMG is still in Downtrend and waiting to breakout.
OMGUSD
1) First wave from ATH to 0.5fibo. Support 6.4
2) Second wave from 11.51 to 0.618fibo
support 6.98
Predict : Third wave from 9.63 to 0.786fibo Support 7.0
LONG buy in position 7.0-7.2
Stop loss 5.6 (20%)
Target : 10.5 -11.50 ( short term) 60%gain , 16.5-17.5 ( long term) 150%gain.
If it drops before 7.0, next huge support 6.0 which is unlikely to happen.
OMGBTC pair
Support fibo0.382 Price 0.0132
Support line Price 0.00121-0.00124
Stop loss : below 0.00120
Target Back to Mean 0.0025-0.00259
Welcome to follow.
$OMG going for the next leg up?After a deep retrace, it seems that OMG did an ABC correction back to 61,8 fibo level.
After several days hoovering around this area, it looks to be bouncing from here.
Its a bit early to be sure, but this might be the start of a new cycle, which could bring it to 450k SAT.
I will update as soon as I have more confirmation.
OMG Trade OppertunityOMG has bled along with many other alts over the last few days, meaning it is a great time to pick um some profits. It looks like we are about to see some bullish divergence on the 4H chart, which could signal the beginning of the next bull run. Personally and naturally I think we will see some consolidation first, meaning it is a great time to make some scalps.
To enter this one I'm looking for a few things:
1) A bounce from the 0.0014125 support line, which it looks like it has done. We may see a retest of this, and if it can successfully do it again we can confirm that as a strong support line
2) The MACD SMAs to create bullish divergence by crossing over above the last bottom crossover, if this happens I will be confident that we have started a consolidation period
3) The RSI to cross above the line (about 42), and if it can stay above it then I will be bullish on OMG
The profit target may be a little high as there is a bit of a sell wall at 0.002, so if it struggles to break that I may decide to take profits here
I've set a very tight stop loss as if it falls it is likely that it will keep falling to around the 0.00115 support area