OMG/BTC

• OMG is struggling to stay above the peak of its uptrend channel
• Bearish MACD Divergence
• Price to most likely retrace towards local support at 261,800
• Major support area at 180,000 - 195,000 to be targeted if price breaks below channel

Expect price to retrace a little and form a new consolidation pattern before retesting highs
If price breaks above 285,000 (resistance) game on again for the bulls

Bearish MACD Divergence (purple)

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All information is presented for educational purposes only and does not constitute financial advice