OMG Update: I offer TWO directions

in #bitcoincryptocurrency8 years ago (edited)

Here is the updated chart for OMG. As posted in earlier update, OMG is cruising along its abc (red) corrective pathway. It's still expected that wave c will end at or near the wave iv region.

The alternate count I have is more bullish as it indicates that abc (red) could be complete. I bring this up because wave i (white) was impulsive with 5 subwaves. If wave ii complets, then iii is next.

Which is correct? If wave ii continues down and goes past the start of wave i; then the primary count is correct. If wave iii starts and has vigor and impulse, the the alternate is correct.

To the cynic, he might say, "oh thanks! You're saying it might go up or go down!". A cynic suffers from myopia, IMHO. My analysis doesn't aim to map trajectory in stone with unwavering certainty. TA is an art unafraid of changing course when indicators call for it.

I hope all readers and followers MASSIVE profits!


If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish.

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Hi @haejin - I actually just blogged something similar that I noticed here: https://steemit.com/cryptocurrency/@unlockrs/omg-bullish-triangle

It appears we're noticing something similar forming, but I'm noticing a potential bullish triangle. Would love to hear your thoughts more as I learn more myself.

Nice blog post! Yes, symmetrical triangles are patterns of indecision and once the apex hits, we'll find out which way. Upvoted your post and following!

Same! Thank you!

Broke to the upside!

looks like it's moving towards your alternate!?

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