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bobsbluebull
Jul 4, 2020 3:31 AM

OXT bullish falling wedge?!? Downtrend reversal imminent?!? Long

Orchid / United States DollarCoinbase

Description

All info is on the chart! OXT looks prime for a breakout of a long term falling wedge! Daily RSI is oversold. There are RSI divergences on daily, 12hr, and 4 hr chart. Selling volume is decreasing and oscillation is dropping. It is near the .382 fib retracement level and nearing old support. Doji candles near the convergence of the falling wedge signaling a possible trend reversal. Price is moving more and more sideways, and less down. More signs of a trend reversal than I have ever witnessed on one chart. LOL... The only signal missing is a breakout of the wedge with volume! Good day traders, and happy trading to you! :)

-This is not financial advice, and I am not a financial advisor!
Comments
Phi-Deltalytics
Nice catch! Looks like a good plan!
bobsbluebull
@Phi-Deltalytics, Thank you! This was the first idea that I posted. Had so many clues as to the direction it was going that I had to share. I haven't been so sure on any crypto before. I've been studying markets on my own for a long time, and I think I'm on the right path finally! Lol
Phi-Deltalytics
@bobsbluebull, Best of luck!
bobsbluebull
@Phi-Deltalytics, Same to you bud.
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