OMGUSD retrace watch: OmiseGo 1.284 critical 1.200 likely

2 Mar 2019

OMG shot upwards with rest of crypto market.
It was a most bullish Alts, reaching 13.764 fib.
It of course unwound most of the vertical leg.

$1.284 is critical support as was recently proven.
Break below should see acceleration to next zone.
1.20x is bull's last stand, next support is 1.125-1.120.

The making of this chart:

Staring with small time frame view of the drop. Perfect 4.236 extension, implying ONE wave, perhaps A of ABC:

Zooming out to see the bull move upwards. Perfect 13.764 extension, one of the highest of all coins:

Zooming out more to last January drop. Another x.764 series with 4.764 being the bottom.

Overlaying the three fibs and noting confluences we have certain bands of interest:

3 Mar 2019

Not

OMG has pierced the critical support formed by two important fib resonances

Zooming into the 1h candles, some would argue that candles did NOT CLOSE below the lines. But for me the piercing is sufficient, and the lack of strong bounce afterwards implies that this support will give.

This purple 3.618 is of utmost concern for bulls now


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23 Mar 2019

Not

Finally, two legs up with higher highs. BUT, might be time to cash some out, or at least trail stops close

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