Time for Altcoins

6 Nov 2017

OMGBTC
As I described before, now Bitcoin price starts to fall since some speculators want to close their positions as BTC shows some reversal signals. This is my favorite crypto pair and I only believe on Fibonacci analysis so maybe you guys will find out that my system is very simple.
OMG has failed to break the 0.786 level as indicated in the daily chart, so now is the time for us to think about bullish. But it's still unclear as the main down trend line wasnt broke, and also as my analysis about BTC still keep a possibility that BTC price can reach 8000$ (Fibo 2.618 level based on the last correction wave).


Next, on 2h chart, I continue to use Fibo as my basement. The price is waiting to break the 0.5 fibo level (0.0009), so let see what happen next, but my thought is that it's good point to go long now.