GlenGoodman
Long

ORCHID (OXT) MAY JUST BE GETTING STARTED...

COINBASE:OXTUSD   OXT/USD
After rising more than 6x in a month, and then falling back, many traders think OXT is done. But all good trend followers know this could be the beginning.

OXT tried to take out the all-time-high but failed. If it makes another attempt, and succeeds, there will be nothing but clear blue sky above the price, and that means no more unpleasant selling pressure from people who bought at the first peak late last year, then HODL'D, lost nearly all their money and are now desperate to sell at their breakeven point. This is one of the psychological factors that often causes stocks/cryptos to soar once they pass their previous all-time-high.

I am waiting for the current short-term pattern to mature and hopefully break out to the upside. If it does, that's when I'll buy, as the risk/reward will offer the possibility of a big win, with my stop-loss ensuring very limited downside.

Comments

Orchid won't go that far for at least one more year. Most OXT volume is on Coinbase. And there is a big problem with coinbase trading if you don't know. The data and real volume is manipulated by Coinbase staff or tech. If OXT can get to other trustful and large exchanges, it will go up higher. Unless, OXT will fate downhill. Try to do some of your own experiment and you will figure out, when u buy 100 OXT with Allow Taker mode, the volume will be 2x on the dashboard automatically. When u post some token or coin for selling, even u are the first one and it only go through half of ur volume if someone buy it.
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Great work
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Nice explanation
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GlenGoodman CandaceWilliams
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Listing on Gemini
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That circulating supply...
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Showgunn Hazel-Ra-Owsla
@Hazel-Ra-Owsla, yea id think it should increase over time from that alone, no? besides that it seems like a solid project
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