OMG has had a huge 50% move up and then dropped more than 20% in less than 48 hours. How is that for volatility! Have the bears finished their work, will the bulls resume? With the huge run up to 2066 stat yesterday it completed the larger degree wave 3 (blue) and started the retracement downwards. The retracement hit the golden pocket (yellow box), will it hold at these levels or does it have another run to the down side?
Will need to keep an eye on this one to see if this is the low is in. But to me we are still on track for a bull run to complete the larger Elliot Wave 5
Note: This analysis is just for entertainment, do not use it for trading purposes and understand there are high risks trading crypto currencies.