✳️ OmiseGo New All-Time Low & 5 Years Long Bullish Divergence

19 de ago. de 2023

OmiseGo vs Bitcoin (OMGBTC) peaked in September 2017 and it has been going down forever. This is understandable because Bitcoin has been going up forever. While OMGBTC can produce smaller and smaller bullish waves, these are still profitable because Bitcoin is normally growing at the same time and you get the multiplier effect.

I already explained the multiplier effect in the past so will not get into it today, but this is one of the main advantages of trading Altcoins vs Bitcoin, it is the only way to grow your Bitcoins if they are just sitting around waiting for the long-term.

The chart. OmiseGo vs Bitcoin.

We have a very steep descending channel which is breaking now as OMGBTC hits a new All-Time Low.

Once we hit bottom, the only place left to go is up.

The weekly RSI is at its lowest ever; oversold. One of the strongest bullish signals you can get.

Another massive bullish signal comes from the MACD, a 5 years long bullish divergence; you know the rest.

This whole setup can lead to a massive bull-market on this pair.

Easy I am seeing 222% but a bigger wave can happen that hits 10X or 1,000%. Now, this is massive on a Bitcoin pair.

We let time take care of the rest.

This analysis doesn't have to be right or wrong.

✔️ If prices drop and the setup fails, you have to define your own risk and stop-loss.

✔️ If it moves up, you have a winner and you also need a plan/strategy to sell on target; how much to sell at each target, how much to hold for how long and so on.

This is not financial advice.
The market can always surprise.

Thank you for your continued support.

Namaste.