SUMMARY
Omisego (OMG) is still well within the broadening pattern known as the Jaws of Wealth. It too is in corrective mode and follows Bitcoin to a lower low; its pretty important for the bottom white support line to hold and provide the base for a sizable turnaround. The blue lines also trace out a broadening pattern and price is curently sitting on the blue support. IF this is to be a simple a,b,c correction, the c wave subwaves are labeled as targeting the white bottom support.
This chart shows pretty much the same but with a complex triple label as it would be unusual for the correction to end in a simple abc three wave. I wouldn't be surprised if Bitcoin finishes correcting and turns but OMG still continues sidesways, churning the price for a few more weeks. Prior correction shows exactly such mode. After the correction, OMG is expected to still target the upper white line of the Jaws of Wealth!
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.
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