Overview
- Spent a TON of time trying to get this chart all formatted with as much information as I could for you guys so hope you enjoy. Long-term still bullish on OXT and I recommend following along with the idea description to make things more clear(unless you're an adventurous type) Let's start from the top!
Price Chart
- Let's start before the breakouts even occurred. At this time, OXT was in a channel and at the end of the breakouts, prices rose 119% from the top of the channel
- Now we could be in another channel for some time if the symmetrical triangle pattern does not play out. If another breakout occurs and rises by the same %, we can predict to reach $1.62 to be the close of the candle(could go higher)
- 20 EMA acted as a support, let's hope it continues
- Even if we fall outside the symmetrical triangle pattern, we are still bullish because instead we may just be in a channel
RSI
- Here's where things get interesting. To start, drew two ascending channels(green) inside a curve(yellow)
- We can see that before the breakouts started to occur, the RSI dropped down to touch the secondary line. Could we be doing that again now?
- Also notice we have an ascending trend when the RSI tries to touch the secondary line
- Used a curve because I wanted to see if it had any impact on a future breakout if it occurs
Stoch
- Also great stuff here. To start, drew two descending trends and a dashed line that represents the two lows
- Notice that the descending trends start just a little after the ascending trends in the RSI on both sides
- The "W" structure in the middle also looks fairly similar to the "W" structure that occurred before the breakouts with a sharp rise, drop, rise, and drop
Additional
- Don't have much info about this chart showing a double bottom or double top as both seem possible
If you enjoyed this analysis or learned something new, please like this idea so more people can be aware of the possibilities of this coin.👍
Feel free to follow for for important updates for this coin and 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
- Spent a TON of time trying to get this chart all formatted with as much information as I could for you guys so hope you enjoy. Long-term still bullish on OXT and I recommend following along with the idea description to make things more clear(unless you're an adventurous type) Let's start from the top!
Price Chart
- Let's start before the breakouts even occurred. At this time, OXT was in a channel and at the end of the breakouts, prices rose 119% from the top of the channel
- Now we could be in another channel for some time if the symmetrical triangle pattern does not play out. If another breakout occurs and rises by the same %, we can predict to reach $1.62 to be the close of the candle(could go higher)
- 20 EMA acted as a support, let's hope it continues
- Even if we fall outside the symmetrical triangle pattern, we are still bullish because instead we may just be in a channel
RSI
- Here's where things get interesting. To start, drew two ascending channels(green) inside a curve(yellow)
- We can see that before the breakouts started to occur, the RSI dropped down to touch the secondary line. Could we be doing that again now?
- Also notice we have an ascending trend when the RSI tries to touch the secondary line
- Used a curve because I wanted to see if it had any impact on a future breakout if it occurs
Stoch
- Also great stuff here. To start, drew two descending trends and a dashed line that represents the two lows
- Notice that the descending trends start just a little after the ascending trends in the RSI on both sides
- The "W" structure in the middle also looks fairly similar to the "W" structure that occurred before the breakouts with a sharp rise, drop, rise, and drop
Additional
- Don't have much info about this chart showing a double bottom or double top as both seem possible
If you enjoyed this analysis or learned something new, please like this idea so more people can be aware of the possibilities of this coin.👍
Feel free to follow for for important updates for this coin and 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
Kommentar:
- What the RSI looks like on the daily. We could see a bounce or start of new rally or we could continue to drop. Hard to say since BTC is going crazy
Kommentar:
I should also add that the RSI we are at now, was the same value that we were at before the previous rally started
