SUMMARY
OmiseGo (OMG) is a coin I'd been recommending since the sub $6 days. It holds significant potential, even with the current correction which is likely to be seen as a phenomenal buying opportunity most missed.
Following the impulse (white waves), the chart below shows the resulting abc and similar to BTC, the bull wick provided what could be a cleansing of the sellers. As price is now breaching upside of the upper blue line, it's imperative for it to remain above and not return inside. The breach must be decisive as it will enable the start of a trend reversal.
The hourly chart shows greater detail. From the Bull Wick, there was an impulse as shown by the white waves. The second blue impulse round has likely started and the key would be to place a higher high than the prior white wave 5. This would confirm greater confidence of a trend reversal.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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