Omisego (OMG) Descending Wedge

BITFINEX:OMGUSD   OmiseGo / Dollar
Roughly 2 months of consolidation that could be looking to break up. If we do break up we could see retest of all time high, a close above $8.21 could establish a breakout.
评论: currently being held by horizontal support, and it has also formed a morning star reversal, a close above 7 could signal for an uptrend.
评论: looks to be targeting a retest of all time high!
What now?!
How to catch a falling knife? Do you thing it will stop before S2?
atovar10 RaulPuiu
@RaulPuiu, never catch a falling knife, wait for confirmation of buyers. Yes, I believe a good support is 5.90-6 area
Descending wedge or descending triangle? Very hard to tell because the bottom line is mostly flat if you join all the lows including the wicks.
@nginx, you could definitely make a case for descending triangle. Either way, it looks like it has broken some support
Baluboy atovar10
@atovar10, Thank you. What is a likely scenario for next support? Cheers
@Baluboy, looks like we are experiencing some support right now, are between 5.91-6 should hold for a bit until bulls and bears decide where to next.
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