OrchidLong
OXT Is Just Getting Warmed Up
Overview
- Overall OXT has performed very well today but it still has a long way to go long-term. Let's start from the top!
Price Chart
- 1hr timeframe chart with the 20/50/200 MA's and price is currently inside a micro triangle, that's in a macro triangle
- Previously broke out of the 20-50MA range and now forming a micro triangle before hopefully continuing to the upside
- Closing the daily above $0.59 would be insanely bullish, above $0.55 still bullish
- In time expect to hit the resistance line(green) of the macro triangle, meet/break $0.74, rise up to $0.84
- Remember this is a patient trade, OXT is like an upgraded saving's account :)
RSI
- On the RSI you'll see the channel OXT is currently in
- RSI is now on the lower part of the channel so it's getting more likely to see a rise in price action. (Although the higher the time-frame the more likely price will rise)
- In some cases the RSI will be too high on the bottom of the channel which causes a dump. This happens so the indicators can get reset so it can form another channel at lower values
4-Hour Chart
- Could see a short-term decrease in price so RSI value can get lower, still great structure
1-Day Chart
- Daily looks very bullish long-term
BTC Dominance
- Dominance is still showing signs of an alt season
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
- Overall OXT has performed very well today but it still has a long way to go long-term. Let's start from the top!
Price Chart
- 1hr timeframe chart with the 20/50/200 MA's and price is currently inside a micro triangle, that's in a macro triangle
- Previously broke out of the 20-50MA range and now forming a micro triangle before hopefully continuing to the upside
- Closing the daily above $0.59 would be insanely bullish, above $0.55 still bullish
- In time expect to hit the resistance line(green) of the macro triangle, meet/break $0.74, rise up to $0.84
- Remember this is a patient trade, OXT is like an upgraded saving's account :)
RSI
- On the RSI you'll see the channel OXT is currently in
- RSI is now on the lower part of the channel so it's getting more likely to see a rise in price action. (Although the higher the time-frame the more likely price will rise)
- In some cases the RSI will be too high on the bottom of the channel which causes a dump. This happens so the indicators can get reset so it can form another channel at lower values
4-Hour Chart
- Could see a short-term decrease in price so RSI value can get lower, still great structure
1-Day Chart
- Daily looks very bullish long-term
BTC Dominance
- Dominance is still showing signs of an alt season
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
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