OMG/BTC is developing a lot of confluent signals right now.
First, on the daily:
- MACD bullish divergence ushered in a nice rally showing bullish convergence on the follow through
- Peak of rally formed X on a potential bearish crab or butterfly harmonic pattern
- A and C of harmonic have the potential to form the third rising valley, ushering in the C to D wave
- C on the harmonic corresponds to a historical support/resistance where the chart made a major peak in a previous cycle
Then, on the 4 hour chart:
- Bullish divergence on both oscillators (RSI & MACD) ushered in the A to B wave of the price harmonic
- Heading towards C about to go negative on MACD, looking for a negative peak of MACD island at C for a mostly positive C to D wave
I think trading C to D is very equitable and I will be setting:
Entry: 0.00017832 - 0.0001975
Stop Loss: 0.00017347
Take Profit #1: 0.00023607
Take Profit #2: 0.00024624
Take Profit #3: 0.00027349
Take Profit #4: 0.00033471
This is not financial advice and I am basically an idiot fingerpainting. I'm not at all telling you to do what I do.
First, on the daily:
- MACD bullish divergence ushered in a nice rally showing bullish convergence on the follow through
- Peak of rally formed X on a potential bearish crab or butterfly harmonic pattern
- A and C of harmonic have the potential to form the third rising valley, ushering in the C to D wave
- C on the harmonic corresponds to a historical support/resistance where the chart made a major peak in a previous cycle
Then, on the 4 hour chart:
- Bullish divergence on both oscillators (RSI & MACD) ushered in the A to B wave of the price harmonic
- Heading towards C about to go negative on MACD, looking for a negative peak of MACD island at C for a mostly positive C to D wave
I think trading C to D is very equitable and I will be setting:
Entry: 0.00017832 - 0.0001975
Stop Loss: 0.00017347
Take Profit #1: 0.00023607
Take Profit #2: 0.00024624
Take Profit #3: 0.00027349
Take Profit #4: 0.00033471
This is not financial advice and I am basically an idiot fingerpainting. I'm not at all telling you to do what I do.