OmiseGo continues to be one of the more undervalued coins in my opinion. One of the key reasons I like OmiseGo is due to the number of Venture Capitalists (VC') that have invested into the company. When I see VC's investing in a new coin this provides additional credibility to the future of the coin as VC's have insight us retail investors do not have. Currently OMG' is #21 in market cap according to coinmarketcap.com. With a hold on the Asian Markets outside China, and a good working relationship with Thailand's government this is one of the most if not the most undervalued coin on the market.
Thailand is ranked 12th among 43 Asian Pacific countries in economic freedom and scoring well above regional and world averages. With a 1.2 Trillion dollar GDP, and the fact outside Hotels and Major shopping malls credit cards are not widely used, OmiseGo has niche itself as the platform of choice as countries enter the digital currency age.
Technical:
From a technical standpoint, OMG' is pausing after rallying back from the $7 low on the 6th of February as it approached the .618 level of the overall correction. These are areas we expect recovery rallies to pause, pullback and consolidate before continuing to rally. The daily candles show that buying has started to exhaust after a clear 3 wave bullish wave movement. Now unfortunately I did not add at the extreme lows, but I am looking to add moving forward as it is likely the correction has ended and we are entering a bull cycle. Elliott Wave combined with Fibonacci provides us insight to where we are in the market cycle, and areas we want to look to add and or sell.
The 14.3 to 15.25 zone is the likely area for a bullish reversal as 14.3 is the 0.618 level from the current bull move and 15.25 is the 0.382 retracement from the overall correction. I will be looking to add a small position in this area and either on a breakout from the bear movement, or at the extreme low of 11.91 which is the 0.618 retracement of the current bullish leg and the 0.236 retracement of the overall correction. This would be an extreme low and offers the best opportunity to position ourselves for the next wave cycle up.
Currently we are targeting this trade for the 22.3-23.9 area.
Hi friend what is your future predictions for omg do you see it at a 1000 or more like the ethereum last year when its started with 7 dollars in January and completed 2017 with 1400
Eisbar906
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Hello Goldbug1
Thank you for all your help with the charts. Question. What do you think actuelle about Geo Coin after the swap? The price and marketvaluation is very low.
Can you make an update, please?
Greetings Roger
FatherGrumpy
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Thanks. Just got rid of some under performing coins that were going nowhere. Traded them all for OMG before reading this post. Feeling a little better about that decision right now.
Deppstein
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thanks goldbug, OMG is one of my top alts, appreciate the analysis.
BigBuxTrading
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Couldn't agree with you more... OMG will be, imho, THE breakout coin in 2018. The Asian market potentials are simply HUGE and, yes, Omise, as a company, is already entrenched in the economy as a major player with big future growth plans... its a winner all the way. My guess is more towards the $34 area..... Best of Luck!
carpioyj
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Good afternoon. How are you? ... You mention the investment of Venture Capitalists in this currency. Where do you get this information from? Thank you.
portfoliox
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Who called it like me? NOBODY =D Not even a top poop? I adviced to take some profits at area 11.800, but poop was wrong goin bullish, i also made a first drop level before magic poop, you can see where ichimoku cloud area is, if it drops bellow that i'm gonna update
portfoliox
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@portfoliox, i was right in my previous posts explained in my earlier posts
could you please analyze OMGBTC ?
what is your idea on that trade?