OXTUSD Looking Beautiful With The Recent Dip
Updated
OXTUSD is still very bullish in my opinion and I'll tell yah why starting from the top:
Price Chart
- The support at $0.39 was successful at holding with a quick bounce back up to $0.41
- Remember, a higher low was still made during the dip down
MACD
- Only indicator I'm not a fan of because the selling pressure has increased from the previous negative momentum
- However, there is a ascending pattern with the positive momentum so it's possible that pattern could continue ( My gut tells me not more than five bounces and we currently completed three bounces)
Stoch Indicator
- Been using this indicator for awhile now and I've seen that when the descending pattern continues until reaching oversold territory in the RSI(Below 20) the prices go up greatly. (Look at RENUSD 4hr stoch example)
RSI
- RSI is a traders best friend. Incredible bounce that occurs at the 50. as this occurrence usually signals a upside in price when it bounces off the horizontal line of the previous RSI low
OVERALL PREDICTION
- With 3 of the 4 indicators showing bullish signs it's looking like a return back to $0.48 and after that hello $0.53. Be patient and relaxed, good things to come for this coin. 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
Price Chart
- The support at $0.39 was successful at holding with a quick bounce back up to $0.41
- Remember, a higher low was still made during the dip down
MACD
- Only indicator I'm not a fan of because the selling pressure has increased from the previous negative momentum
- However, there is a ascending pattern with the positive momentum so it's possible that pattern could continue ( My gut tells me not more than five bounces and we currently completed three bounces)
Stoch Indicator
- Been using this indicator for awhile now and I've seen that when the descending pattern continues until reaching oversold territory in the RSI(Below 20) the prices go up greatly. (Look at RENUSD 4hr stoch example)
RSI
- RSI is a traders best friend. Incredible bounce that occurs at the 50. as this occurrence usually signals a upside in price when it bounces off the horizontal line of the previous RSI low
OVERALL PREDICTION
- With 3 of the 4 indicators showing bullish signs it's looking like a return back to $0.48 and after that hello $0.53. Be patient and relaxed, good things to come for this coin. 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
Note
UPDATE: - As price rises toward $0.43 we could possibly see a drop to $0.41 before we see another rise to the upside
- This is what I like to call making a " W " on the RSI indicator and this is a bullish signal so do not worry if you see the price drop
-Happy Trading
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