A deeper dive into OXT price action
Updated
*Beginning trader and technical analyst. I received my trading education from TRi, school of trader development. **This is not trade or financial advice, but posted for entertainment.
I hope this chart isn't too messy. Had a lot to say.
I like this crypto. Yes, VPN, isn't sexy like NFT's, Defi, or the almighty BTC, but it is a fundamentally important growth component to the future of an internet with robust privacy and free of censorship. There are big VC names behind this crypto too, Sequoia and A16z. Why does it seem to be just hanging out? I find sometimes that I have to check my opinions and emotions at the door. I tell myself things like " oh this thing hasn't popped, so I'm going to get in early because I know it just hast to." or even "There are big VC names in it so it must be good." May be you have some of these feelings too? But what does the tech say? Am I being realistic about what this crypto is going to do today, tomorrow, next month or even next year?
I want to be bullish this name. I think it has big upside potential, low market cap, relatively low coin supply, right now. I don't think we are bearish yet, but I don't think we are screaming bull. And when Bitcoin is going nuts like it is, we all know that any moves, up or down, can totally invalidate technical analysis on alt coins.
So here are some of my thoughts on OXT (posted in the chart). I've become a little obsessed with OXT right now, so I will try to keep posting my thoughts. It seems like this coin may be manipulated. Seems to be a lot more potential buyers than sellers on the order book but not the price movement to reflect it. Im not the best at reading DOMS or order books , so if you have an opinion on that or any other aspect of my analysis please share as I would love to hear it.
It is looking a little toppy. Maybe it will put in a double bottom off a bounce at the 50% of the range at approximately .73. Ultimately, the markets going to do any damn thing that it wants to do-I keep this in the back of my mind when trading. Trade it don't date it.
OXTUSD
I hope this chart isn't too messy. Had a lot to say.
I like this crypto. Yes, VPN, isn't sexy like NFT's, Defi, or the almighty BTC, but it is a fundamentally important growth component to the future of an internet with robust privacy and free of censorship. There are big VC names behind this crypto too, Sequoia and A16z. Why does it seem to be just hanging out? I find sometimes that I have to check my opinions and emotions at the door. I tell myself things like " oh this thing hasn't popped, so I'm going to get in early because I know it just hast to." or even "There are big VC names in it so it must be good." May be you have some of these feelings too? But what does the tech say? Am I being realistic about what this crypto is going to do today, tomorrow, next month or even next year?
I want to be bullish this name. I think it has big upside potential, low market cap, relatively low coin supply, right now. I don't think we are bearish yet, but I don't think we are screaming bull. And when Bitcoin is going nuts like it is, we all know that any moves, up or down, can totally invalidate technical analysis on alt coins.
So here are some of my thoughts on OXT (posted in the chart). I've become a little obsessed with OXT right now, so I will try to keep posting my thoughts. It seems like this coin may be manipulated. Seems to be a lot more potential buyers than sellers on the order book but not the price movement to reflect it. Im not the best at reading DOMS or order books , so if you have an opinion on that or any other aspect of my analysis please share as I would love to hear it.
It is looking a little toppy. Maybe it will put in a double bottom off a bounce at the 50% of the range at approximately .73. Ultimately, the markets going to do any damn thing that it wants to do-I keep this in the back of my mind when trading. Trade it don't date it.
OXTUSDTrade active
In the short term, found support around .73 and bounced.Trade active
If it closes a .84 we are well on our way!Order cancelled
This thing has a lot of cleaning up to do. WOuldn't be a surprise to see a visit to the .50sOrder cancelled
Well, here we are. 80% of the time if price dips and closes into value from either above or below value, 80% of the time it will revist the opposite end of value.Order cancelled
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