OMNI Seems to be completing a Wedge, breakout LONG imminent?

20 Jul 2017

It seems that OMNIcoin is in the final stages of a wedge and in my opinion, is about to breakout of the wedge/structure into the start of a Wave 1 on the Intermediate period, which means a continuous upward trend for a substantial period of time (eg. Long Term). Price action has breached the Blueberry EMA 3 times but has not penetrated the Support. There is also a major flip zone where in my opinion, is major support and price action won't penetrate. TDI shows price action around the mid-band area whilst it is approaching the oversold area of RSI as the bands begin to expand/separate.

In my opinion, once structure is broken, and there is a breakout, we can expect a couple of deep retracements at least until August, and then we should see a rapid bullish (Going LONG) move to continue the Wave 1 Impulse on the Intermediate Period.

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This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.

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