1-August 2021 | Within buy-in price.
28-June | Back within buy-in price.
OmiseGO (OMG) Overview
What Is OMG Network (OMG)?
OMG Network, formerly known as OmiseGo, is a non-custodial, layer-2 scaling solution built for the Ethereum blockchain. As an Ethereum scaling solution, OMG Network is designed to allow users to transfer ETH and ERC20 tokens significantly faster and cheaper than when transacting directly on the Ethereum network.
The network is based on a novel scaling solution called MoreViable Plasma, which uses a sidechain architecture to group several transactions off-chain into a batch, which can then be verified as a single transaction on the Ethereum root chain. According to OMG Network, this technology has the potential to scale Ethereum to thousands of transactions per second (TPS) — instead of the 10 to 14 tps Ethereum 1.0 is currently capable of.
The network is powered by the OMG utility token, which can be used as one of the payment methods for fees on the OMG Network, and will eventually be stakable — helping to secure the network in return for rewards.
OmiseGO (OMGBTC) Chart Analysis
Let’s start by looking at the weekly chart for OMGBTC, here we can see that all gains have been removed:
Now, that was the weekly chart, let’s look at the daily to get a better picture as to what will happen next
The RSI daily is still weak at 38 but the MACD is showing a bullish cross:
That’s should be enough information to entertain you for a bit… Let’s get to the numbers, shall we?
OmiseGO (OMGBTC) by Alan Masters
Buy-in: 0.0000890 – 0.0001110 (1030)
Next support: 0.0000790
1) 0.0001230 |Hit 18-Jan. (+19%) |Hit 17-Aug.
2) 0.0001550 |Hit 13-Feb. (+50%) |Hit 5-Sept.
3) 0.0002050 |Hit 7-Apr. (+101%) |Hit 6-Sept.
4) 0.0002420 |Hit 7-May (+137%) |Hit 20-Sept.
4) 0.0002713 |Hit 7-May (+166%) |Hit 21-Sept.
5) 0.0002900 |Hit 1-Oct. (+185%)
6) 0.0003400 |Hit 2-Oct. (+233%)
Potential profits: 866%
Stop-loss: Close weekly below 0.0000700
Capital allocation: <15%.
WHY LESS IS MORE!
When you have less of everything, you can have more of everything else.
Let me explain.
Fewer clothes give you more space for new clothes.
Fewer worries open the door for new thoughts.
Less spending, less debt, less consumption… Frees your energy to invest in your own self-growth.
Less of the material, more for the Soul.
The bigger your Soul, the more you can experience, the more you can enjoy.
It is temporary but it can also be done for long.
Get rid of everything, grow yourself, and as you grow you will clearly feel that you now have so much more.