You can see in my "Link to Related Ideas" section below that I have been tracking OXTUSD for some time now. OXT moves fast! Probably, faster than many other ALTS (at least on Coinbase) and that is simply because it is one of the ALTS with the least amount of market cap, though that has been changing over the last few months.
There is now a preponderance of charting evidence leading me to believe that OXT's time is imminent. And if you look at my past idea below: "OXT - The case for $1.25 PRICE TARGET!" I show why the price target of $1.25 is reasonable and the time of around mid-April is the perfect time to hit this target.
Once OXT breaks through the descending GREEN resistance of the current triangle it resides in, I will pick up a little more. This is our signal that it is "GO TIME".
I will then hold till around $1.00 where I will probably begin to take profits. Then again at around $1.15. A big chunk at $1.20 and then finally, most of what's left at $1.25. I will hold a small amount more for the possibility of exceeding this price point, which I have also made the case could likely occur. In fact, my suspicion is that OXT could even hit the $1.40 mark!
This is a 2-3 week swing trade friends.
Please let me know how it goes for you all and if my idea helped you in any way!
I wish you the best!
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More confirmation. Shortly after posting my idea, OXT popped out of the triangle. Lift off!
I'll probably wait for a small pullback tomorrow and/or Wednesday to buy more. Then? To the moon we go!
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Today's candle adds more confirmation. Completely outside the triangle. Ready to move up. Buckle your seatbelts folks!
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Once again OXT showing excellent signs of health. A little dip. As expected. We tested the bottom of our range, which has also now been established as a good supply and support area. I bought more. The chart indicators just keep getting better. We're going to move soon.
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4hr chart says it's GO TIME!!!
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Another test for strength has passed!
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This is the BTC dominance chart. I have waited so long for this Head and Shoulders pattern to play out. Altcoin season has officially begun!
Best of luck traders!
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....And here we go! To the moon! Congrats to all you crazies who trusted the Phat Man! 2x profits on the way!
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April 15th is here. But we are still ranging. Although, ranging is a great indicator we are going to move higher soon, some of you are disappointed we have not hit our targets by the date denoted in my post. Please remember, the date was also both a target and an indicator. Charting is not an exact science. The approximate date is still in tact and will let us know that our targets should be met soon. Please watch carefully. It will move quick. Don't be greedy. And take profits quickly along the way.
Trade closed: stop reached
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A word of warning to my followers. I feel it is only fair that I disclose that most of my OXTUSD position was stopped out at the .6582 mark. I was not expecting to drop this low and was surprised by the automated stop out that I had set.
I have been looking for a valid re-entry coinciding with a decent setup, but I have been unable to locate anything that looks interesting at this point. We are below an ascending triangle (which was bullish to stay inside of) and have been unable to regain that territory. Additionally, we are below the 50 day. Finally, as I peruse all other charts including the broader markets, SPY, DJI, NDAQ, the Dollar, and the bigger cryptos like BTC/ETH - they all seem to be pointing to another downside move into May. Once this downside has resided, I will look for the bulls to come back full throttle and I will post a new idea regarding my thoughts on a good entry price.
I still remain adamant that we will hit the $1.25 mark. However, it has become apparent that the timeframe that I expected was simply too premature.
I will be back in full bore once this consolidation period has ended.
We just doubled bottom inside of the bull flag on the 4 hour and momentum is turning positive... im very hopeful this jump will start in the next 48 hours.
stewdamus
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@murphy24, we're getting very close. Maybe by tomorrow.
mufox77
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fingers crossed. I hope the sleeping giant makes a major move and people fomo the hell out of the price :-).
mufox77
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everytime the price moves up, I see HUGE sell walls appear than price gets pushed right back down lol. i don't recall seeing price action like this with other coins. maybe it's just because of low volume and low market cap?
murphy24
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@mufox77, thats frustrating. I honestly do not know why this occurs. I'm far from an expert but maybe this is just a whale suppressing the price to allow more accumulation for their buddies or for them self before it goes off to the races. At least that is what I hope it is lol but yeah it would be easier to do this with a coin like this with a lower market cap.
murphy24
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@mufox77, we should see the start of a breakout though within the next 24-28 hours. Maybe after one last touch down at .695 .. we shall see.
@philthephatman, this is the Bitcoin Dominance chart. I have waited so long for this pattern to play out. This is the official start of altcoin season, however quick and short it may be.
murphy24
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@philthephatman, Hope this doesn't mean bitcoin dumps while alt coins dump less haha. also 4 hour chart on OXT seems to look like an ascending triangle now. faked me out for sure. resistance is strong around .745