OXTUSD Looking Beautiful With The Recent Dip - The Sequel
Overview
- My first idea had the a very similar title and look where OXT is now! But, it's time for the sequel to come out. Overall OXT's daily is implying that a move to the upside is becoming more likely. I guess four days of constant selling will do that? Let's start from the top!
Price Chart
- Daily chart with 20/50/200 MA's to help indicate future supports
- Previous large correction was violent as well, dropping roughly the same percentage
- Previous large correction also did not break the 50MA(yellow), however, did break the 20MA(green) but rose back above it
- Could break the 50MA, but if OXT is still very bullish it will reclaim position above
- Need to break above $0.74 to start getting really bullish and see ATH
- Measured start-to-end of last run and cloned percentage gain to current area, takes us perfectly to $1.20 as the next move top
- Long-term a higher low was made!
- Once a $1 is broken could very well go past $1.20 since OXT will be in price-discovery-mode
- Break below $0.58 and could start getting a little less bullish
- Orchid Meetings could have a positive effect on price in a couple weeks if media starts telling news stories about the meetings
- Let's hope BTC doesn't have a massive correction :)
RSI
- Hit the bottom of the channel, could now start seeing higher prices.
- Top of next move could hit the horizontal blue line indicating ATH is set before a retrace occurs
- Break below the red line and could start becoming bearish
Stoch
- Stoch is now showing that its getting closer to another rally due to it reaching lower levels
- Could bounce off the green line
4-Hour Chart
- Text boxes explain chart!
Extra Info
- Learn about OXT here: www.orchid.com/oxt
- OXT VOLUME: coinmarketcap.com/currencies/orchid/
If you enjoyed this analysis or learned something new, please LIKE this idea 👍
FOLLOW for important updates for this coin and helpful trading strategies 🏆
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
- My first idea had the a very similar title and look where OXT is now! But, it's time for the sequel to come out. Overall OXT's daily is implying that a move to the upside is becoming more likely. I guess four days of constant selling will do that? Let's start from the top!
Price Chart
- Daily chart with 20/50/200 MA's to help indicate future supports
- Previous large correction was violent as well, dropping roughly the same percentage
- Previous large correction also did not break the 50MA(yellow), however, did break the 20MA(green) but rose back above it
- Could break the 50MA, but if OXT is still very bullish it will reclaim position above
- Need to break above $0.74 to start getting really bullish and see ATH
- Measured start-to-end of last run and cloned percentage gain to current area, takes us perfectly to $1.20 as the next move top
- Long-term a higher low was made!
- Once a $1 is broken could very well go past $1.20 since OXT will be in price-discovery-mode
- Break below $0.58 and could start getting a little less bullish
- Orchid Meetings could have a positive effect on price in a couple weeks if media starts telling news stories about the meetings
- Let's hope BTC doesn't have a massive correction :)
RSI
- Hit the bottom of the channel, could now start seeing higher prices.
- Top of next move could hit the horizontal blue line indicating ATH is set before a retrace occurs
- Break below the red line and could start becoming bearish
Stoch
- Stoch is now showing that its getting closer to another rally due to it reaching lower levels
- Could bounce off the green line
4-Hour Chart
Extra Info
- Learn about OXT here: www.orchid.com/oxt
- OXT VOLUME: coinmarketcap.com/currencies/orchid/
If you enjoyed this analysis or learned something new, please LIKE this idea 👍
FOLLOW for important updates for this coin and helpful trading strategies 🏆
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
Comment:
Also check out those text boxes for some sweet knowledge/tips that help you indicate future rallies! Perfect example.
- Moves like these are what we've been waiting for. This could very well be the first of the possible 3 (3-daily candles make up the last ATH)
- Enjoy it, but also don't forget to take profits above $1 :)