Technical: OMGBTC after losing 83.21% from all time high is finally showing signs of a bottom. Not only that, we can also see textbook accumulation pattern. It seems for 48 days we have been in a tight range. At first the bottom was formed following which a breakout attempt was made which failed. It proceeded lowers for a liquidity tap by taking out all stops below the previous formed bottom. From the middle of the range we dropped down to the bottom of the range where we seem to have found support.
Relative Strength Index has always been a precursor for OMGBTC right before a bullish move. On 1h to 5h TF we can see that consistently we are seeing bullish divergence . Not only that on the daily chart we had formed a bullish divergence.
Now BTC might fall a little bit more and drag OMG down a tiny bit but the bullish case is too strong here.
There's a lot going on in the Fundamental side of this coin but I prefer not to get into it again. There was also some announcement about an airdrop.
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I'm not your Financial Advisor and this is not to be construed as Financial Advice but I can be your Legal Advisor if you can afford me.
