Next massive move for OMG
Updated
I've been encouraged to publish more idea, so let's start with OMG. I don't know and don't care whether it goes up or down, though I'm personally biased to the upside, but this chart shows the key levels to watch, regardless of direction.
In brief: we broke back into an old triangle after an extended period of accumulation and we're coming to the end of that triangle. We will either correct to around $1.10 or continue to around $3. A bullish move might even take us to around $6 pretty quickly.
Ps' these are not targets and they are not precise, they are merely suggestions of levels to watch.
Ps' Ps' I personally trade OMG/BTC, but for the moment the OMG/USD price is the driving factor, hence this analysis.
In brief: we broke back into an old triangle after an extended period of accumulation and we're coming to the end of that triangle. We will either correct to around $1.10 or continue to around $3. A bullish move might even take us to around $6 pretty quickly.
Ps' these are not targets and they are not precise, they are merely suggestions of levels to watch.
Ps' Ps' I personally trade OMG/BTC, but for the moment the OMG/USD price is the driving factor, hence this analysis.
Note
We had a brief fakeout to the downside overnight, but it's moved safely back into the channel, looking for an upside move.Note
The pennant is still holding, suggesting surprising strength, but it looks like it might break down soon. if not, very bullish.
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