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OMG TO THE MOON?? OmiseGO ANALYSIS

ddepalma(28)

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#bitcoin

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As BTC continues it's down trend, I am looking to get value buys in both BTC and altcoins. I was doing some charting on OMG and found some possible entry points. Let's take a look

FIB CHANNEL:
I use the Fib channel instead of the normal parallel channel because it does a good job of finding potential entry and exit points on an upwards or downwards channel. Looking at this one, it seems OMG is bouncing around the bottom of the channel, signaling a good possible entry.

MOVING AVERAGE SQUEEZE:
In the picture above you can see the 50(yellow) and 200(orange) moving averages. When those two lines squeeze together that usually indicates a price breakout in either direction. Since the alt market is in a healthy position, with momentum, I'm assuming it's going to be upwards.

RISING WEDGE:
Zooming in, we can see a rising wedge forming. It tested the top of the triange yesterday now it is settling back in, still awaiting breakout confirmation

ICHIMOKU CLOUD:
We are still awaiting bullish TK cross, as well as bull cloud div, so this indicator is not full go, but something to keep an eye on for confirmation