SUMMARY
OmiseGo (OMG) is expected to tag higher highs. The breakout from the Bullish Downward Pointing Symmetrical Triangle was decisive and now its a matter of impulsing up. I've labeled the subwaves of blue wave 3. I expect $15 or so range but as in prior analysis, OMG is being consumed by the Jaws of Wealth and so $32 target remains.
Here is OMG/BTC pair with little change. Circled blue wave 1 is complete and now wave 2 is in progress. Target of 0.0034 BTC remains.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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Alrighty, I'll bite this time :)
this is a great post i like it
Thank you very much. can you take a quick look at BTG?
do you think 3rd wave is done? It looks like I see 5 waves are done for wave (3) but the fifth wave is so small Idk if thats valid?
looks so
Correct me if I'm wrong. According to your analysis bitcoin ATH should be reached BEFORE omiseGO starts its rapid growth.
So should one risk holding onto bitcoin for now (bitcoin rise almost always causes drop of price for ALT coins) or just get the omiseGo right now. Choices choices choices....
What would be your strategy? Split? 50/50. And if/after bitcoin reaches ATH -> then go 100% omiseGO and just relax (as its a longer term growth).
I like your analysis of crypto.
There's a lot of FUD right now made by other "predictors". Specially when it comes to bitcoin. Many predict BCH overtaking BITCOIN (this very weekend) and Bitcoin having a massive dip. I think it's all just a FUD.
Can't lie. I had a little bit of doubt myself, but after seeing BCH rise of 30% the other day and bitcoin reaction was just a 2% "dip" - it looks those coins can and will coexist relatively peacefully.
Will be checking your educational videos over the weekend.
Thanks.
Diversify...it's the best way. Then you don't have to jump between coins and time things and trying to time things is extremely dificult.
You're right. I've just recently got into crypto (november). My portfolio is diversified.
But there's the thing. I'm always @10% profit. Everyday. I mean it does not rise above it :). Some coins take a dip, and other start to rise. it compensates. But still haven't escaped 10% myself.
The issue is clear to me - I don't take profits. Why? Don't know how (when) yet.
I guess by learning how to analyse charts and learning elliot waves an such - one can more comfortably take profits.
P.S. I do believe in my choices of crypto and probably if I just played COD all year long and checked my balance at the end of 2018 - I'd see big profits. But trading is so much more fun. THAN COD.
I recommend maybe 2-5% for trades and just hodl the rest. Remember the goal is not to lose money. If you successfully trading you can go 50/50 with the profits. To build up your Bitcoin stack. And build up your trading stack at the same time. Be patient. Trading is only fun when your winning.
Interestingly this coincides with my plan to sell OMG at around circled blue 3. I will be using your reference point to re-buy after it dips before the finally rally!
edit: also, glad to see you're finally making some decent profits on here as well :)