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Weekly forecast OmiseGO / BIT technical chart
Symbol OMGBIT

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (87.15000 to 79.10000). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

While the price is below the level 96.5, the probability of beginning of uptrend is too weak, so we would enter the market with buy trades based on Daily-Trading-Opportunities and a day close price above 96.5 and expect to reach short-term targets.

  • Beginning of entry zone (87.15000)
    • Support on 09/24/2019
    • Support on 10/26/2019
    • Support on 12/17/2019
    • Support on 12/18/2019
    • Support on 12/19/2019
    • Support on 12/20/2019
    • Resistance on 12/28/2019
    • Resistance on 12/29/2019
    • Resistance on 12/30/2019
    • Resistance on 01/02/2020
    • Resistance on 01/05/2020
  • Ending of entry zone (79.10000)
    • Support on 01/08/2020
    • Support on 01/11/2020
    • Trough on 01/14/2020
    • Support on 01/14/2020

DateJanuary 16, 2020 - 21:32
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 174.30000 would begin in Midterm.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 79.10000 on 01/14/2020, so more gains to resistance(s) 96.50000, 126.90000 and maximum to Major Resistance (174.30000) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 54.

Take Profits:

  1. 126.90000
  2. 174.30000
  3. 219.10000
  4. 303.85000
  5. 499.25000
  6. 683.50000
  7. 887.00000
  8. 1138.50000
  9. 1387.50000
  10. 1739.90000
  11. 2319.50000
Click on the level to view price action history.

Symbol Released Current Forecast
OmiseGO / BIT (OMGBIT) Sun, 20 Mar 2022
OmiseGO / BIT (OMGBIT) Tue, 15 Mar 2022
OmiseGO / BIT (OMGBIT) Mon, 7 Mar 2022
OmiseGO / BIT (OMGBIT) Sun, 27 Feb 2022
OmiseGO / BIT (OMGBIT) Sun, 20 Feb 2022