I see big falling wedge and we already break out resistance line. Now we moving in uptrend channel. We already break triangle. But inverted head and shoulders shows it will go up. One minus Stoch RSI overbought
Couldn't a falling wedge also mean a breakout downwards? Before making predictions on altcoins like this, I think we first need to wait what bitcoin does.
JimBob721
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@MarkH99, Usually that's the case but if you look at the OMG/BTC chart, OMG sustained upward trend since the new year, throughout BTC's decline.
MarkH99
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@JimBob721, I get what you mean. When we look at the OMG/BTC chart we indeed see that OMG outperforms BTC. In short this means that when BTC grows, OMG will grow even harder. But when BTC decides to go down again (which I think it's trying to do right now), then the altcoins will follow (we have seen this many times in the past). So for OMG (considering it outperforms BTC) that would mean it might not descend too, but it will most definetly have a lot of trouble breaking out (what is insisted in this post).
sofiane-sher
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wow u really amazed me great job hope you give us your personal price prediction for omisego
Hi I am new and having a hard time to understand the terms, what the analysis means, when is the right time to do the action, and how to put the stop loss? Can someone here help me out in the general language and reading all these great ideas that some experts share here. Thank you!