Breakout Watch For OXT
Overview
- If $0.68 is broken we could see a breakout to $0.74 and could potentially break $0.74 if volume is present. Let's start from the top!
Price Chart
- Daily chart with 20/50/200 MA's to help indicate price movement and future supports
- OXT has been battling the top of the macro triangle for awhile and the bulls are trying to push through
- Break $0.68, $0.74 could come fast and higher if high volume is present
- Yellow line is an estimated move, not 100% what's going to happen
- As long as BTC stays strong and volume is present, OXT is looking primed for higher prices
- Close above the solid green trendline then $0.74 is more likely
RSI
- RSI has crossed the dotted green trendline but I would like to see it clearly cross before labeling OXT as very bullish.
- Strong, bullish RSI value
4-Hour Chart
- Overall great ascending structure in the RSI
1-Hour Chart
- Overall short-term selling could occur before going higher
Extra Info
- Learn about the Orchid here: orchid.com/oxt
- OXT VOLUME: coinmarketcap.com/currencies/orchid/
- Take 5min to improve yourself as a trader by learning the ins-and-outs of trading triangles here: investopedia.com/articles/technical/03/091003.asp
If you enjoyed this analysis or learned something new, please LIKE this idea 👍
FOLLOW for important updates for this coin and helpful 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
- If $0.68 is broken we could see a breakout to $0.74 and could potentially break $0.74 if volume is present. Let's start from the top!
Price Chart
- Daily chart with 20/50/200 MA's to help indicate price movement and future supports
- OXT has been battling the top of the macro triangle for awhile and the bulls are trying to push through
- Break $0.68, $0.74 could come fast and higher if high volume is present
- Yellow line is an estimated move, not 100% what's going to happen
- As long as BTC stays strong and volume is present, OXT is looking primed for higher prices
- Close above the solid green trendline then $0.74 is more likely
RSI
- RSI has crossed the dotted green trendline but I would like to see it clearly cross before labeling OXT as very bullish.
- Strong, bullish RSI value
4-Hour Chart
- Overall great ascending structure in the RSI
1-Hour Chart
- Overall short-term selling could occur before going higher
Extra Info
- Learn about the Orchid here: orchid.com/oxt
- OXT VOLUME: coinmarketcap.com/currencies/orchid/
- Take 5min to improve yourself as a trader by learning the ins-and-outs of trading triangles here: investopedia.com/articles/technical/03/091003.asp
If you enjoyed this analysis or learned something new, please LIKE this idea 👍
FOLLOW for important updates for this coin and helpful 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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