$OMG, Damn…
Weekly
Looking at our trend timeframe we see price continuing it’s downtrend, stochastic rsi showing momentum in favor of bears with no signs of slowing down. Support found at 52000, last time we were at this price was back in December of 2017. Last time we were at this price we saw a jump from 52000 up to 200000, will OMG behave the same?
Daily
Shifting over to our pattern timeframe we see price has formed an inverse head and shoulders on our daily, stochastic rsi showing momentum in favor of bulls. A daily close above 54700 activates our trade and we should see a push up towards 70000, if rejected at this level expect our sell off to continue towards 20000
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