OMGBTC UPDATE
OMG rejected the previous double bottom at the weekly support around 114585. Now has dropped with btc to a 4 hr support and formed another double bottom on the 4 hr time frame. a nice bounce off support has now happened although there is a weekly trend line just above which may act as resistance.
I will be waiting for it to make a move either up or down from here. If the trend line is respected and it heads back down I will be looking for this support to hold again and an entry off it with a bullish engulfing candle.
If the trend line is broken here price will move into an area between the weekly trend line and a weekly resistance. Forming almost an ascending triangle. If this plays out i will look for an entry when it is pushed into the corner pending BTCs movements.
I will be waiting for it to make a move either up or down from here. If the trend line is respected and it heads back down I will be looking for this support to hold again and an entry off it with a bullish engulfing candle.
If the trend line is broken here price will move into an area between the weekly trend line and a weekly resistance. Forming almost an ascending triangle. If this plays out i will look for an entry when it is pushed into the corner pending BTCs movements.
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