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atovar10
Oct 30, 2017 4:35 PM

Omisego (OMG) Descending Wedge  

BITFINEX:OMGUSD
OmiseGo / DollarBitfinex

描述

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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

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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

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looks to be targeting a retest of all time high!
WedgeChart PatternsOMGOMGUSDomisego
评论
RaulPuiu
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What now?!
How to catch a falling knife? Do you thing it will stop before S2?
atovar10
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@RaulPuiu, never catch a falling knife, wait for confirmation of buyers. Yes, I believe a good support is 5.90-6 area
nginx
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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.
atovar10
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@nginx, you could definitely make a case for descending triangle. Either way, it looks like it has broken some support
Baluboy
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@atovar10, Thank you. What is a likely scenario for next support? Cheers
atovar10
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@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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