An overview and some perspective on $OMI

- Has $OMI sold off more than most (including myself) expected? Yes.

- Is the team performing? Are the fundamentals getting stronger? Yes.

- Do markets tend to overreact both to the upside and to the downside? Yes.

Keep reading

1/
$OMI's YTD performance peak was a cool 64,346%

2/
$OMI YTD performance (as of last 30 minutes ago) is about 24,397%

3/
The reason I bring up the astronomically high YTD peak and actual performance of $OMI is because it puts things into perspective.

No matter what the market, no matter what the project, there is always a deep correction that makes people feel very, very uncomfortable.

4/
Markets have a tendency to overreact in both directions
I bet when $OMI was rocketing higher in March many of you felt as if it was never going to stop going up. I also bet that the same people are the ones who are currently feeling like $OMI is never going to stop going down

5/
Don't allow your emotions to become correlated to price action. Always view things through an objective lens as emotions in trading just cloud your judgement

$OMI

6/
With that out of the way, below are the two scenarios I see playing out.

This is my base case scenario

I believe the low was put in yesterday on the sharp sell off down to a low of ~$0.00415

I see price consolidating around $0.0051 and then breaking higher

$OMI

7/
This is the second scenario I see happening but assigning a much lower probability to it occurring

Another sharp leg lower down to the support level at $0.0034 followed by a very aggressive move back higher

$OMI

8/
Could I be completely wrong here? Of course! All I am trying to do is stack the probabilities in my favour

Onward and upward #ECOMIFam

Below is my POT (Proof of Trade)

$OMI

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