Oh My God, What Is About To Happen? The Top Is In!

5 ต.ค.

A bullish wave is followed by a bearish wave...

Good night Mr. and Mrs. trader, I hope you are having a wonderful weekend.

We are now going to be diving into the OMGUSDT chart and:
—Oh My God! What do we have here?

OMG grew by an astonishing 8,086% in a matter of 280 days, simply awesome. This is why I love the Altcoins. This is starting October 2023 through July 2024.

The highest volume happened in December 2023. High volume was still present in February 2024, this would be equivalent to wave 3 in Elliott Wave terms. Prices continued to grow and move higher all the way through July 2024 but volume drops almost to zero, and that would be wave 5.

After the July All-Time High, there was a strong retrace and immediately a new up-move, the price bounce. This price bounce is still active today and we are seeing a lower high now compared to July, with very low volume. This can be read as a top signal.

The chart/market/pair can be manipulated here for one final jump, but this is hard, risky and expensive. A drop is approaching this pair. This is completely normal because a correction follows growth. Nothing moves straight down neither straight up.

After the drop starts to unravel, it will be a while until this pair sees green again.

Thank you for reading.

Namaste.

6 ต.ค.

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Correction: OMUSDT