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Omgusdt

Watch the reaction to this IMPORTANT support The current situation: 1. A descending triangle pattern is now more apparent with 53% chance of breaking upwards and the measured target is about 4.45 USD from the apex. But still, note that there is still a head and shoulders formation within the triangle, which is a predominantly bearish pattern. So far, the Fib level (gold line), 4 and 6HR 200MA have been acting as support but it was not strong enough to propel a break out to a new high. The 4HR 21MA is now approaching to the price action so in my opinion, the reaction to this moving average hitting the price action is very important since staying above the 21MA on a given timeframe is a bullish sign. The 4HR 21MA has also not been touched since the breakout back at 3.1 USD. 2. Do look out for possible bearish divergence from the last high created on the RSI, especially on the 1, 4 and 6HR harts as their last highs did create an overbought reading on the RSI. The bullish case: price action bounces off the 21MA and breaks the triangle. An hourly close above 4.25USD would convincingly invalidate the head and shoulders pattern to me. The bearish case: a close below the 21MA on the 4HR chart as the next level of support would be the downward-sloping 4HR 200MA currently at 3.75USD *Thank you to those who donated, I very much appreciate it. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
O
by CryptoRush_
7
Bearish pattern looking more apparent will it break down?The current situation: 1. Previously, it looked like price action had an ascending triangle pattern going, which was a bullish pattern. Currently, it is starting to look more like a head and shoulders pattern, a bearish pattern. The rather ambiguous neckline, which is also the gold line and a Fib level, is at about 3.9 USD and is the current support. The measured target of the pattern is at about 3.4 USD and there are several moving averages at about the 3.8 USD level that can act as support between the breakdown below the neckline and the measured target. 2. There was a RSI reading of about 77 on the 6HR chart for the last high made, so possible bearish divergence may occur if the next high made creates an equal or lower RSI reading and can prompt a pullback. The bullish case: 1. If the price action holds above the neckline and retest the 4.35 USD level, which can still validate the ascending triangle pattern while negating the head and shoulders pattern. OR 2. If the price action breaks below the neckline and bounces off one of the moving averages at about 3.8 USD currently to retest the 4.35 level, which also negates the the breakout of the head and shoulders pattern. The bearish case: price action breaks below the neckline and does not bounce off one of the moving averages at about 3.8 USD. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
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by CryptoRush_
9
OMG. 12h. We don't believe in OMG above $5. Our target is $1.8.While $BTC price was growing hard , OMG used a chance and made a minimal correction after such a strong 4X fall. The final boundary of the correction can be one of three levels: 4.25 - a false breakout so far 4.65 - almost reached him 4.95 - we don't believe in growth above this level. Those who entered the long near $3 - it's time to place orders and take profit. Those who bought on highs, it's time to think about fixing the loss. It is not a fact whether it will be allowed to do above $5 in the next few months. _______________________________ Since 2016 , we have been analyzing and trading the cryptocurrency market. We transform our knowledge, trading moods and experience into ideas. Each " like under the idea" boosts the level of our happiness by 0.05% . If we help you to be calmer and richer - help us to be happier :)
OShort
by P_S_trade
10
Will this bounce and continue?The current situation: 1. Price action has ran up to about 4.3 USD today and now has formed a head and shoulders, a bearish pattern, on the 15M chart. The neckline of the pattern is about 3.95, which the price action has now broken below and the measured target is about 3.6, which is about where the 1HR moving average is. The 4 and 6HR 200MA are at about 3.8 currently and can be resistance once price action closes below it. 2. RSI was just or is still overbought on the 1, 4 and 6HR charts. So possible bearish divergence may still occur even if the price action makes an equal or higher high. In that case, another pullback may be expected after. The (short-term) bullish case: price action bounces off the 1HR 21MA and retest the previous high of about 4.3 USD The bearish case: price action does not get a strong bounce at the 1HR 21MA and continues falling. Either of these are VERY risky moves to get in on. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
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by CryptoRush_
4
OMG.USDT (Y20.P4.E1).TA on the Macro structureHi All, Keeping it short as its only the planning phase. Planning ahead, and hence stalking for the best options if or when they available. Note: a few key point; a) previous high has confluence with the trend line target area as support; b) RSI hidden bullish divergence in the making like previously; c) Stochastic looking for a bounce for the short term; d) OMG gave good returns and is likely to do so at least 1 more time. One should not be confident what took place would mean it will do it again. Please give me a like or tick for this post Cheers, S.Sari Possible scenario, daily chart Macro overview
OLong
by ssari
1
Omg Crypto has Accomplished The Biggest Milestone!!OMG launched its mainnet on June 1. It’s a milestone the team has been working toward since its ICO in 2017. The OMG Network is a layer 2 scaling solution for Ethereum based on a codebase called Plasma. It speeds up transaction times and reduces transaction costs by 66%. One of the first major newcomers to the network is Bitfinex, a top crypto exchange. The exchange will use the network for its USDT stablecoin right off the bat. This is significant because USDT is the biggest contributor to Ethereum activity, which means the OMG Network will have sizable usage immediately. We expect more crypto projects to follow Bitfinex’s lead. In addition, we anticipate enterprise use to follow via its parent company, Omise. Omise has 8,000 merchants who would benefit from moving many operations to the OMG Network. This would be very bullish for OMG. The future is bright for the OMG Network as it accomplishes one of the biggest milestones on the roadmap. We expect prices to continue rising as more usage hits the network.
OLong
by ShinForex1
2