OMGUSD retrace watch: OmiseGo 1.284 critical 1.200 likely
Aktualisiert
OMG shot upwards with rest of crypto market.
It was a most bullish Alts, reaching 13.764 fib.
It of course unwound most of the vertical leg.
$1.284 is critical support as was recently proven.
Break below should see acceleration to next zone.
1.20x is bull's last stand, next support is 1.125-1.120.
The making of this chart:
Staring with small time frame view of the drop. Perfect 4.236 extension, implying ONE wave, perhaps A of ABC:
Zooming out to see the bull move upwards. Perfect 13.764 extension, one of the highest of all coins:
Zooming out more to last January drop. Another x.764 series with 4.764 being the bottom.
Overlaying the three fibs and noting confluences we have certain bands of interest:
It was a most bullish Alts, reaching 13.764 fib.
It of course unwound most of the vertical leg.
$1.284 is critical support as was recently proven.
Break below should see acceleration to next zone.
1.20x is bull's last stand, next support is 1.125-1.120.
The making of this chart:
Staring with small time frame view of the drop. Perfect 4.236 extension, implying ONE wave, perhaps A of ABC:
Zooming out to see the bull move upwards. Perfect 13.764 extension, one of the highest of all coins:
Zooming out more to last January drop. Another x.764 series with 4.764 being the bottom.
Overlaying the three fibs and noting confluences we have certain bands of interest:
Anmerkung
OMG has pierced the critical support formed by two important fib resonances Zooming into the 1h candles, some would argue that candles did NOT CLOSE below the lines.
This purple 3.618 is of utmost concern for bulls now
.
Anmerkung
Finally, two legs up with higher highs. .
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