Orion (ORN) - Bullish divergence

Sep 7, 2023

On the above 4-day chart price action has corrected 98% since 26 dollars.
Is now a better opportunity from that one published in January @ 1 dollar? (linked)

At this time:

1) Price action and RSI resistance breakouts plus backtests confirmations.

2) Strong bullish divergence as measured over 60 days. 8 oscillators print positive divergence with price action.

3) What was said above is also true for the ORN-BTC pair.

4) The falling wedge breakout prints on legacy support. It is from here the flagpole is used to measure the target, which is also the golden ratio @ 6 dollars or thereabouts.

Is it possible price action could fall further? Sure.
Is it probable? No.

Ww

Type: trade
Risk: <=6% of portfolio
Timeframe: act now
Return: 1100% / $6

Feb 26, 2024

Trade active

300% so far.
Only another 170% until 1100% / $6 target.

May 18, 2024

Note

** Close swing trades **

A buy from 1.15 until current levels will be rewarding some weeks down the line.

1 week