OmiseGo (OMGBTC) is one of those big altcoins that tend to produce big trading volume on a daily basis.
Right now, OmiseGo is sitting at number 32 on the list of Top Altcoins by Market Cap.
This list is available on CoinMarketCap and now lists over 2116 cryptocurrencies. Less than two years ago it was below 1,000... The market is growing FAST!
Now, back to OMGBTC... Let's take a look at the chart:
We can see that support was broken, purple line sitting at 0.000352, but the price quickly bounced up after that.
We have increasing overall volume.
A break above EMA10.
And bullish divergence showing up on the MACD and RSI.
These signals can support a nice set up for a trade.
REALLY IMPORTANT: These signals are good and can be strong, but know that the market still moves on its own. So the signals can confirm and this become a profitable trade, but they can also breakdown and a loss can be generated from this trade.
So it is a good set up, but still there is risk involved.
Please keep this in mind, before you put your money into any coin.
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