Maximilian108
Short

OMG/USD - time for correction, how deep is the question?

BITFINEX:OMGUSD   OmiseGo / Dollar
OMG has seen a large run up in the lat month and needs to correct. The general trend seems to have topped out with 200 EMA trending downwards and price below it. BTC             Gold             is coming Oct 25 alts will be sold into BTC             so people can get their free BTC             Gold             . If BTC             falls below $3000 we can see OMG price hit the major demand zone in the next 4 - 6 weeks. If BTC             manages to consolidate through hard forks then the mid range support will be more likely, even then big corrections are not uncommon even for big cap alt coins (NEO & STRAT come to mind).

In the longterm I see this coin being a great longterm gainer. In December there will be fundamental news for OMG.

Thanks for the read.

Trade at your own risk, this is not financial advise.
Kommentar:

I wanted to share this symmetrical triangle. Not sure if it is still relevant. We would need to see some buying volume come in tomorrow to stay in this triangle.
Where did you hear about December news?
Antworten
@mrnav, They are revealing what they will use for the decentalized cash in/out layer. Can't seem to find the link to where they said this but I'll do some more digging. Some are thinking it will be some sort of partnership with the Kyber Network, KNC still has a lot of development before they have a working product though.
+1 Antworten
mrnav Maximilian108
@Maximilian108, How long do you think the current bear run will last. If it doesn't break out soon it could drop to sub $7
+1 Antworten
@mrnav, I think it will be bearish before the Segwit2x for BTC in November. People are still buying BTC and dropping all Alt.coins.
Antworten
@mrnav, I think OMG will be bearish for October and then consolidating in the major demand zone in November. By Dec/Jan I expect bullish movement.
Antworten
mrnav Maximilian108
@Maximilian108, so you think it will drop to $2-3?
Antworten
@mrnav, Here are two scenarios:

1) BTC continues to rally breaking key resistance at $4680 and $5000. alts will bleed more but high BTC price will keep alts high in USD.

2) BTC fails to break resistance at $4680 and retests key levels (these are price ranges):
$4000
$3500,
$3200
$2900
$2500
$2200

If we see scenario 1 then the mid support zone will be a likely bottom. If we see scenario 2 then we are going to $2-3. We should have a much better idea in the next 24-48 hours. All eyes on BTC.
Antworten
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Startseite Aktien-Screener Devisen Signal-Finder Kryptowährung Signal-Finder Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden