Overview
- BTC falling $2,000+ had a slightly negative impact on the OXTUSD price, however, long-term this may prove to be a good thing for several reasons
Price Chart
- Currently the price is nearing $0.40 after just testing the $0.39 support. My thought is as long as we stay above $0.38 support and BTC doesn't crash, the long position of reaching $1 is still in play
Stoch Indicator
- We are now getting closer to the oversold territory (Anything under 20). This means we now have a safer window to enter the long position or add to our bags
RSI
- In my last post I mentioned the formation of the "W" that could possibly play out. We are now at the stage where we could possibly see a break to the upside in price that would complete this structure. The RSI could also go up or down again making a "W" with two middles before going up, or BTC could crash and the RSI would continue to fall to oversold territory
If you are in a long position in this asset you must continue to be patient and sipping your wine as these price fluctuations shouldn't be anything to worry about
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
- BTC falling $2,000+ had a slightly negative impact on the OXTUSD price, however, long-term this may prove to be a good thing for several reasons
Price Chart
- Currently the price is nearing $0.40 after just testing the $0.39 support. My thought is as long as we stay above $0.38 support and BTC doesn't crash, the long position of reaching $1 is still in play
Stoch Indicator
- We are now getting closer to the oversold territory (Anything under 20). This means we now have a safer window to enter the long position or add to our bags
RSI
- In my last post I mentioned the formation of the "W" that could possibly play out. We are now at the stage where we could possibly see a break to the upside in price that would complete this structure. The RSI could also go up or down again making a "W" with two middles before going up, or BTC could crash and the RSI would continue to fall to oversold territory
If you are in a long position in this asset you must continue to be patient and sipping your wine as these price fluctuations shouldn't be anything to worry about
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