Onyxcoin (XCN) - Possible 100x opportunity? The alt-token market offers some interesting opportunities following retail capitulations. At this moment there is a handful of plays that generally exist under the $100m market capital evaluations. It is worth noting some of my best first long exposure to alt-tokens were below this market cap. That includes MATIC (idea at bottom), and Solana, and Cardano. How was this accomplished? Ta folks, the charts do not lie. Especially on higher time frames, this is the secret. Not 4hr and 15-minute charts!
Back in August of last year this token had a market cap of $7.4B, today it is $20m.
Why bullish? Volume. For whatever reason, volume is entering this market. No it is not me, I’m not a trader.
On the above 5-day chart a number of reasons now exist to be bullish. Why?
1) Price action and RSI resistance breakouts.
2) Regular bullish divergence (8 oscillators) as measured over a 3-month period.
3) Volume breakout. Money Flow Index is now printing a positive money, in other words buyers outnumber sellers.
4) Candlestick reversal pattern. Do you know this is bullish?
5) There is no suggestion or TA to be made here that forecasts market cap returns to $7.4B, however 27% of that to SEED_TVCODER77_ETHBTCDATA:2B would be your 100x.
Is it possible price action falls further? Sure.
Is it probable? No.
Ask for updates below.
Ww
Type: Trade
Risk: 1-2%
Timeframe for long: Now
Return: 100x
MATIC idea in September 2019 @ 1.5 cents with volume breakout