OmiseGo (OMG) Update: Symmetrical Triangle with a Cup & Handle
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SUMMARY
OmiseGo (OMG) is one of those kernels of corn that pops later, and that's ok! It would be silly if al pop corn kernels popped all at the same time. No different with the Popcorn Sympohony of Altcoins!
Below chart shows a downward pointing bullish symmetrical triangle and the price has been hugging the lower triangle support line. The blue line is showing what could be the makings of a cup & handle pattern. Elliott Waves is also marking the price pathway towards $37.43. So, is it worth waiting for this kernel to pop? I think so!
Here is the OMG/BTC, which is clearly lagging the OMG/USD pair. One more little lower dip in price could be needed, but not required. That would then finish off the last remaining wave 5 subwave of c. I've added the blue impulse waves that aim for 0.0034 BTC.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
OMG HODL
looks like a great ladder casting! upvoted!!
OmiseGoGOGO OMG 🤣🚀💃🕺 TY @haejin
Any idea what's going on with SBD? Reading the Steem white paper recently tells me that this price isn't normal since it's supposed to pegged to the USD and says it usually trades in the $0.95 to $1.05 range.
I've been predicting a spread out of market cap into the altcoins over the next year because bitcoin can't seem to scale up without forking. Hodling several alts just in case.
Steem being used by pro alt traders who move back & forth many times since the recent tether FUD. That's reason for Steem breakout. Unknown to me how this could be arb'd off to run up in SBD? The SBD reacting more like some big position possibly exchange is upside down n short squeeze. Interesting to see steem action again.
Can you link to proof of this? This sounds right but would want to do more research.
Our info shared from Blocktrades tech who also doing customer support. BTW new info per the SBD confusion over quotes being falsely delivered thru main shared APIs due to a Poloniex breakdown on SBD trades. (froze up until they get fixed & correct trades when broke?) Bittrex quotes accurate price levels ~$10-12 SBD
awesome! thanks!
May i ask what alts you are holding and expect to see a big bump in 2016? I’m looking to expand my portfolio
if you're looking for a high risk high reward coin, i'd like you to check out ICON (ICX). really solid fundamentals, and really undervalued
I think Bitshares and Steem and eventually EOS will emerge on top when everyone realizes that bitcoin and ethereum aren't up to scaling. If a surprise happens and LN or Schnorr comes online next year, then maybe not.
LN is a joke taken too seriously. DPoS is a lighting network and Dash and PIVX has built in LN called InstantSend which is more than twice as fast as the DPoS coins. LN is also too centralized and too much trouble to use.
What is LN and SCHnorr?
Lightning Network and Schnorr signatures.
Lol. My bad
I love the way you include the /BTC trades. I’m with BITTREX here in the UK so don’t trade the Dollar pairs. I’m slowly getting the counting and I’m practicing every day. It IS paying off. Thank you.
It's a nice topic, I've learned a bit more. Thank you.
If 0.0034 BTC is $37.43, that means BTC price by then is only $11000. Is this correct?
The charts should be considered to be independent of one another and assume different timeframes.
That's right. The 0.0034 btc target is mars 18, while the 37.43 target looks to be pretty much exactly as we enter 2018.
Ya
i liked in your all post
thanks haejin. this is one of my long term holds