Orchidלונג
OXT Resting Before The Long Hike Up
Overview
- Overall I remain bullish as BTC could be resetting for another bull run which would be great news for OXT. Let's start from the top!
Price Chart
- Price is in a decline, however, we have been holding above the 50MA(Yellow) at most times which is nice to see
- Would like to stay above the 50MA other wise it is possible that we could be seeing the next MA(Red). I think this is unlikely as BTC would need need to drop lots more while also ending it's current bullish run
- Next resistance is the 20MA(Green)
- $0.42 is a nice support area behind the 50 MA(Yellow)
- Really believe OXT will rocket in the coming future but the question is when. Predicting this will be very difficult but once more volume comes in, expect something big
RSI
- Could be forming a double bottom on the RSI, which if confirmed, will lead to higher prices and maybe an ATH
- Double bottom pattern would be broken if the RSI touched down again at the same low-levels as the previous two lows
- We are still similar in RSI movement compared to the time-frame before the ATH breakout occurred
- Hopefully this is correct in the future
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 I remain bullish as BTC could be resetting for another bull run which would be great news for OXT. Let's start from the top!
Price Chart
- Price is in a decline, however, we have been holding above the 50MA(Yellow) at most times which is nice to see
- Would like to stay above the 50MA other wise it is possible that we could be seeing the next MA(Red). I think this is unlikely as BTC would need need to drop lots more while also ending it's current bullish run
- Next resistance is the 20MA(Green)
- $0.42 is a nice support area behind the 50 MA(Yellow)
- Really believe OXT will rocket in the coming future but the question is when. Predicting this will be very difficult but once more volume comes in, expect something big
RSI
- Could be forming a double bottom on the RSI, which if confirmed, will lead to higher prices and maybe an ATH
- Double bottom pattern would be broken if the RSI touched down again at the same low-levels as the previous two lows
- We are still similar in RSI movement compared to the time-frame before the ATH breakout occurred
- Hopefully this is correct in the future
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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