Oxygen / BTC / USD - brokerage service built on Solana

On the above 1-day chart price action has corrected 50% since late September. A number of reasons now exist to be bullish, including:

1) The ‘incredible buy’ signal of course.

2) RSI is printing higher lows as a breakout of RSI resistance is confirmed.

3) Multiple ‘bullish engulfing’ candles.

4) Price action makes an impulsive move to the upper half the Bollinger Band (not shown here).

5) On the 6-day chart (below) a perfect ‘Dragonfly DOJI’ is printed. Fantastic.

6) On the 3-day dollar chart (bottom) a ‘incredible buy’ signal was printed. Price action is now on support having printed a higher low. 10 oscillators, yes 10! are currently printing hidden bullish divergence. There is no more resistance after $3.40.

Normally fundamentals don’t interest me much. On this one the I think of as a ‘bankers token’. The CEO has over 16 years of investment banking (Managing Director at Merrill Lynch, Goldman Sachs) and fintech experience; but does indeed seem very interesting.
www.topionetworks.co...c52378e0021c1d37de18

It is possible for price action to fall further? Sure.

Is it probable? Very unlikely.

Good luck!

WW


6-day chart - DOJI

3-day dollar chart

Trade active:

The recent sell off is creating opportunities everywhere. During such times it is a good reminder you don't actually need to have many positions to make a great return.

On the 8hr chart below bullish divergences are increasing with higher lows versus the lower lows in price action. Good to go!

Comment:

Good grief. Was there a hack? No idea. Perhaps someone can tell me. Looks like capitulation for sure. Will close this idea if there's no hint of recovery, those moves are not organic.

In the here and now price action is massively outside the Bollinger Band by almost 5 standard deviations!! On both dollar and BTC charts. 90% of all price action trades within the band, so it should spring back in quite a fashion once whatever this is, is over.

Trade active:

Happy to leave this one open. This was a capitulation event, which is now occurring across the entire market. This is good, healthy, needed. The weak hands need to be out before a rally can begin. The first evidence of that comes through divergences and they be in lots of random tokens, I'll update them as time allows.

In this token on the BTC pair the divergence is now following the 'incredible buy' signal. Fantastic. There is currently 8 oscillators diverging with price action.

Trade active:

On the 1-day dollar chart price action is:

1) on the golden ratio

2) 7 oscillators printing bullish divergence with price action - look left!

3) way outside the Bollinger Band - remember 90% of price action trades inside the band,

Trade active:

A 'incredible buy' prints on the dollar chart with price action almost 50% below the Gaussian channel, heavily oversold.