BITTREX:OMGUSD   OmiseGO / US Dollar (calculated by TradingView)
450 8
Possibly one to keep an eye on either way:

OMG released a new roadmap - but it does not seem to have done much to price so far. Hae to tried to read it? This weeks earlier retracement was spotted in advance and now I am wondering if the long-term buy support is going to hold above the approx 7 dollar range (cluster of darker blue lines)?

Price for several ALTS is still trading within the long candle from the snapshot night (pink red lines). A breakout from this range may suggest the same distance in either direction.

We are still being held by the downtrend and are being held by the volume support (pink) ... but I fear when volume support goes horizonal as to it's ability to continue that support.

So what have we here? Several candles may signal a price flip in the next few hours/day ... BUT they have not completed. Such a potential retracement (if only small due to being so oversold) unless it breaks out of the long candle is probably only going to remain inside the downtrend pressure. If support does not hold, sooner or later, we may have a dip to 6 dollars or below to the only decent fresh supply (light thicker blue lines) I can find. Such a low price might be a great buy?

All the best.

What now?!
How to catch a falling knife?
4XXXX RaulPuiu
@RaulPuiu, I'm not saying it will stop there and never look down., as money is draining from Alts. But it should bounce.

someone i follow whos picked bottoms really well (within 1-24 hours of the last 2 bloodbaths) just said in his opinion 6.39 was the bottom of OMG. Im holding my breath for this one.
4XXXX Persica
@Persica, hi. 'bottoms' tend to be where fresh supply exists already = the thicker and lighter the blue line on my chart. So maybe lower than your friend suggest, or maybe higher. It is all a tough call right now ... BTC is draining everything and ruining what might be good positions for many alts otherwise.
+1 回复
Persica 4XXXX
@4XXXX, I hear ya man, I went long on OMG at 11.4 expecting it to go back to $14, then I bought more trying to catch the proverbial knife. I am bleeding money at $9.6 at the moment and I am going to hold till after the fork, segwit2x seems to be a cluster fuck but all this new money coming in doesnt know ANYTHING about it, they just see btc is going up, Ive even met people who didnt know there was such a thing as alt coins...this is bad news as when there's a correction if the correlation doesnt break between BTC and alts, EVERYTHING is going to tumble, i need to keep a sharp eye and take my losses and wait. thoughts?
4XXXX Persica
@Persica, I agree. As much as I am a believer of the ideal and also endeavour to be pragmatic re: reality. Yes, this is gone quite crazy. Everything has it's own character - and this has become a monster. My charts/good indicators have trouble handling this BTC behavior to be frank. In regards your position ... it's your call: you only lose if you sell, or do you cut your losses? Do you believe in the tech/project? If yes, then don't become emotional and hold. If you want some money to put into something else that you are convinced you can hedge with, then maybe liquidate a part position? But what would that be besides the obvious! Look carefully at my chart again .. everyone of those blue lines will cause a reaction, a pullback to some degree. At least wait for those. I expect in 2x 2hr candles may create some halt for you, even a possible retracement. Remember, buy from the sellers - sell to the buyers. Re: everything is going to tumble? Maybe, maybe not, money is draining yes. See the other side to the charts ... the other side of the "moon" ... every coin has two sides. The charts show the orders that have been filled and clues to what has not. And try not to take it personally ... many many ppl have got their perfectly good calls wrong.
+1 回复
Persica 4XXXX
@4XXXX, thanks a lot mate, I have lost a lot of money as I decided to play around without learning how the whole thing works yet, I am still learning albeit the hard way. I have around 9x the amound of my liquid price in my margin wallet but the funding is kicking me hard. The other concern i have is i made the bad call of selling my BTC and everything in my margin wallets is alts, luckily largely ethereum and I am waiting for Devcon to boost ETH some more. I can't understand why the price hasnt budged at all after all the good news that has come from ETH and OMG. I think the biggest mistake is marketing; 1) everyone has heard of Bitcoin and it's a lot easier to pronounce 2) Ethereum is being sold by the truckload to fund all the shitcoins that keep coming out.

either way, I have a lot of faith in the fundamentals of OMG and ETH and I will hold the living shit out of them for ages BUT I made the mistake of going long and the whales manipulate the markets too much.

4XXXX Persica
@Persica, maybe we can chat about this topic in PM sometime. I wish you well.
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