OmiseGo (OMG): Pathway to $31.17
SUMMARY
I've frequently referenced the "uniformity of sentiment" phenomena that is prevalent throughout the Cryptosphere. Much of it is largely due to promiscuous holding of coins. Many who hold Omisego (OMG) apparently must also own Bitcoin as the pattern similarity is quite uncanny.
The below chart shows the rightward leaning Inverted Head & Shoulders was completed and confirmed, just like that of Bitcoin. The minimum target was also hit at $19.85, and thus the pattern precision oriented. BTW, rightward leaning IHS are more "powerful" as it is more devoid of "sellers".
Similar again to Bitcoin, the larger Inverted H&S is shown in below chart. This is all sentiment driven and thus market leaders are almost always easy to identify. IF this larger IHS completes by finishing the Right Shoulder (RS) and then confirms so that price decisively breaches the white Neck Line; then an impulse Elliott Wave based pathway to $31.17 would be highly likely...all time new highs! The only aspect not positive is that volume doesn't confirm the pattern. However, since Bitcoin's volume confirms quite well; and OMG is following Bitcoin, the "pull effect" from BTC should be powerful enough to negate the abscence of the volume confirmation.
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Thanks for the info and will be looking to this project then hopeful adding it to my portfolio, all the best to you
People are definitely strange. One day everybody wants Bitcoin, next day no one wants Bitcoin, only Altcoins, the following day the same people sell all their Altcoins... and then we start again.
OMG makes up part of my portfolio and I’m happy to say that I appear to have bought this at very good price earlier in February. $30+ would be a nice price to see and I’m planning to hodl for what will hopefully be higher highs in the future. I believe this is a project with some potential and fulfilling that potential will ultimately lead to greater volume down the road
@talesfrmthecrypt i couldn't agree more with this!
and i don't think we are alone! When Vitalik Buterin tweets his approval for a coin it usually gets attention. There was also some good news in regards OMGs use in Thailand this week - a project that has been gathering pace for a couple of years. p.s I like the look of your travel blog and have followed you. Keep living the good life
Thank you!! Thats very interesting, i am going to look into that.
Also you can see on the Right Shoulder a pennant forming and the 5th wave already went for the top of the pennant so I placed my first target for OMG to be $21.11 bc the size of Wave 1 probably is gonna be the same of Wave 5.
Comment your opinion guys!
OMG / BTC presents a triangle that validates the rise.
Possible target 300,000 long-term satoshis
full analysis and I await your comment, thanks
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Haejin please provide an update on OMG, as I see inverted H&S pattern, but your opinion is a confirmation for us. I added my take on it as shown below-
Coins mentioned in post:
Nice....