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MoneyGrind
Mar 14, 2021 11:21 PM

Breakout Watch For OXT Long

Orchid / United States DollarCoinbase

Description

Overview
- If $0.68 is broken we could see a breakout to $0.74 and could potentially break $0.74 if volume is present. Let's start from the top!

Price Chart
- Daily chart with 20/50/200 MA's to help indicate price movement and future supports
- OXT has been battling the top of the macro triangle for awhile and the bulls are trying to push through
- Break $0.68, $0.74 could come fast and higher if high volume is present
- Yellow line is an estimated move, not 100% what's going to happen
- As long as BTC stays strong and volume is present, OXT is looking primed for higher prices
- Close above the solid green trendline then $0.74 is more likely

RSI
- RSI has crossed the dotted green trendline but I would like to see it clearly cross before labeling OXT as very bullish.
- Strong, bullish RSI value

4-Hour Chart

- Overall great ascending structure in the RSI

1-Hour Chart

- Overall short-term selling could occur before going higher

Extra Info
- Learn about the Orchid here: orchid.com/oxt
- OXT VOLUME: coinmarketcap.com/currencies/orchid/
- Take 5min to improve yourself as a trader by learning the ins-and-outs of trading triangles here: investopedia.com/articles/technical/03/091003.asp

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Would also like to know your thoughts! Remember this is not financial advice, however, it is an overview of what I am seeing in this coin's price action.

-Happy Trading
MoneyGrind

Comments
MoneyGrind
Hoping we start seeing OXT's volume in the $100+ million soon!
TheKitchenTrader
Longer time frame it's such a huge C&H. I would think this breaks big any day now. What's your ETA?
MoneyGrind
@TheKitchenTrader, Next couple days will be interesting as it'll either clearly break the resistance line or maybe even retest $0.56
TheKitchenTrader
It keeps teasing us but the setup is here.
MoneyGrind
@TheKitchenTrader, haha tell me about it
infuckingdeed
Thanks! Great overview. waiting for breakout
MoneyGrind
@cankuskucu, Thanks! Feel free to let me know if you'd like anything added for future ideas!
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