If you're watching the OMG charts like I am, you know that OMG is currently in a downward trend. It has just dropped back to it's previous support levels at around 213000 satoshis and is bouncing off that slightly.
I've already set some buy orders to pick some up during the fall, but looking at the chart it seems to me like more downward momentum is to be had. It doesn't look quite ready yet for a trend reversal. But the question then becomes: How low will it go?
Do you expect prices to rebound from 213000 satoshis, and this will be the bottom? Or do you think, like me, that OMG may drop lower? What level would you set your buys at? I'm looking to buy some more OMG. I can see it dropping to about 200000 satoshis before any kind of rebound happens. Do you think this is accurate, or will it drop even lower! I'm interested in hearing your opinions before I set my buys!
It is still going down!!
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I sold about 21 and use that money to put at buy order in for ~30 at ~80k. If it fills I get 9 free OMG, if not, I was happy to sell at that price anyway.
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30K and 80K? Wow! You expect OMG to drop down by more than 50%? That sounds rather harsh to me, considering the momentum and popularity they have!
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30 OMG not 30K, but i wouldn't expected it not to drop to 80K, not absolutley though, just am happy to trade it for bitcoin anway.
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excellent analysis. I think that it is goin to rebound from 213000 satoshis.
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the main issue seems to be that OMG was hyped a lot lately, but recently new hype coins like Chainlink or Walton got much of its previous attention. So investors flock to these new coins and will move back to OMG in a while.
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Yep.. I agree. The daytraders hop back and forth between whatever brings the highest gains at that time. I think OMG has enough popularity and fundamentals to gain new attention in a little while. In the meantime I am looking to find the bottom of the dip, so I can buy back in some more!
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Dont think it will go that low! Bounced pretty hard off support. If it goes down more I will grab more. Grabbed 130 at 9.5!
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Looking at omgusd 4h bittrex on trading view I see strong support at around $8 and also at around $7 the Fibonacci also supports this. if it gets this low I will definitely be picking up some more.
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I bought at 225000.
I think that it will stop at 216000.
Nice post!
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keep on making art, greetings @pandorasbox
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