I’ve found that chart patterns frequently repeat themselves, and this occurs in all markets, whether it’s equities, forex, crypto, etc. You can find almost identical movement in every time frame.
For OXTUSD's chart in particular, you can see a shape that’s similar to an “m” frequently through its down trend. You can spot this throughout the 5-minute, as well as any of the higher time frames.
If you zoom out on the chart and look at the daily, we are making the same exact pattern that we made when OXTUSD was first listed. It’s nearly identical. I have the first big run it made as well as the sideways movement that followed overlayed onto its latest big run.
So in my humble opinion, I don’t think this is where OXTUSD breaks out. I think we experience some slight downward followed by sideways movement for a while like it did before.
** Please note that I’ve only been trading since March. I am still very inexperienced. The ideas that I post are solely used to help me improve upon my own skills. I like to reflect on my ideas and see what I did wrong and determine how I could have done better. My ideas are not to be taken as financial advice. This is an update to my previous analysis on OXTUSD. **
PS. Ignore the random line on the RSI. Idk how that got there lol
TheKitchenTrader
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Great foresight. Wedge gonna blow up here in February.
PolarHusk
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ThanksGoodJob
jjmurrray
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This looks really interesting! Thank you. I have made a lot on OXT with both the big pumps and was expecting more rise following the recent Binance and Chainlink news. Ill keep a bag for a while based on your chart I back it!