CXO ReversalNot looking good for CXO -
On the daily chart, a double top has formed with a measured move down to 82c on the cards.
Zooming out on the weekly log chart, another double top is forming with a measured move to 40c.
CXO
CXO ( potential swing trade long - April 2023)CXO looks to be forming a running flat in the short term. C-wave is incomplete so a little patience is required before considering an entry. Any move to the golden zone will need to be scrutinized. The 92c and 89c level represent sturdy resistance and support zones. Could also possibly become an expanding flat in the future. A tight stop loss here (5 to 7%) is required if there is a decision to play.
CXO LONG (ASX)Moved from a running flat to an expanding flat . Spot lithium prices have fallen 34% in the month of March, highlighting a slowdown in demand caused by contractionary monetary policy. The spillover effect onto major banks indicate a stronger possibility of further downside which may lead to a recession during summer (US). Downside is clearly linked with a number of macro factors including Fed induced banking crisis (SVB) and dropping lithium spot prices. Lithium stocks have dropped significantly in March 23 so will be expecting more corrective movement for now.
The world is moving towards electrification and CXO is now a producer. My forecast is that CXO will exceed $2 in 12-18 months .
ASX:CXO Bull FlagWeekly Bull Flag breakout
Measured move lines up with the 100 fib ext + psychological level of $2
core has broken outcore lithium has broke the trend line in white and with a lot of news out this can go big
CXO/CargoX First of July ACI Mandatory in Egypt Update 2Hello,
CargoX ( KUCOIN:CXOBTC / KUCOIN:CXOETH ) is still right on track for the mandatory launch of the Egypt ACI System.
The candles have finally deviated from the blue arrow predictions.
This is an update from my last post on the 2nd of June:
Hello,
Even with recent price movements of Bitcoin and Ethereum , CargoX ( (CXOBTC*BTCUSDT+CXOETH*ETHUSDT)/2 ) has been able to keep the price stable / rising.
After some analysis I figured the best way to look at its price was via USD as the coin will be bought by business for a set price in dollars.
Egyptian government announcement about CargoX and ACI system: www (dot) nafeza (dot) gov (dot) eg/en/site/aci-details
The upcoming event, Lets look at some numbers:
Egypt has an yearly average container port throughput of approximately 6.5M TEU
Lets take the conservative estimation that import/export is about 50/50; However, this source leans to more import than export:
3.25M TEU Yearly; About every 1.45 TEU requires a Bill of Lading document which costs 15$ worth of CXO:
So about 2.275M BoL yearly with a total cost of: 34.125M dollar.
Currently the whitepaper of CargoX states a 70% burn rate: Thus 23.9M dollar worth of CXO burned every year. Every year. From Egypt alone.
With these estimates CargoX is looking to have a very bright future, together with those who are holding the token.
Please let me know your thoughts about the estimation.
Sources:
Yearly TEU Egypt: www (dot) ceicdata (dot) com/en/indicator/egypt/container-port-throughput
Import/Export: unctadstat (dot) unctad (dot) org /countryprofile/maritimeprofile/en-gb/818/index (dot) html
Price BoL: help (dot) cargox (dot) digital/en/user-manual/documents-and-pricing/pricing-policy/#pricing-example
Burn rate / Bluepaper: (Burn rate: cargox (dot) info/files/CargoX-Business-Overview-Technology-Bluepaper (dot) pdf )
CXO/CargoX First of July Mandatory in EgyptHello,
Even with recent price movements of Bitcoin and Ethereum, CargoX ( (CXOBTC*BTCUSDT+CXOETH*ETHUSDT)/2 ) has been able to keep the price stable / rising.
After some analysis I figured the best way to look at its price was via USD as the coin will be bought by business for a set price in dollars.
Egyptian government announcement about CargoX and ACI system: www (dot) nafeza (dot) gov (dot) eg/en/site/aci-details
The upcoming event, Lets look at some numbers:
Egypt has an yearly average container port throughput of approximately 6.5M TEU
Lets take the conservative estimation that import/export is about 50/50; However, this source leans to more import than export:
3.25M TEU Yearly; About every 1.45 TEU requires a Bill of Lading document which costs 15$ worth of CXO:
So about 2.275M BoL yearly with a total cost of: 34.125M dollar.
Currently the whitepaper of CargoX states a 70% burn rate: Thus 23.9M dollar worth of CXO burned every year. Every year. From Egypt alone.
With these estimates CargoX is looking to have a very bright future, together with those who are holding the token.
Please let me know your thoughts about the estimation.
Sources:
Yearly TEU Egypt: www (dot) ceicdata (dot) com/en/indicator/egypt/container-port-throughput
Import/Export: unctadstat (dot) unctad (dot) org/countryprofile/maritimeprofile/en-gb/818/index (dot) html
Price BoL: help (dot) cargox (dot) digital/en/user-manual/documents-and-pricing/pricing-policy/#pricing-example
Burn rate / Bluepaper: (Burn rate: cargox (dot) info/files/CargoX-Business-Overview-Technology-Bluepaper (dot) pdf)
CargoX to $1 by 1st July (mostly) 300% growth 1st July on NEWsCargoX is the first digital Shipping documentation in the blockchain.
With such a low market cap now around $53.9 Million at the moment with X10+ potential.
CARGOX has signed an agreement with Egypt which has significant trade movement through Suez canal.
The agreement will be enforced by 1st July.
All cargo ships will be required to buy CXO coin keeping 30% and 70% of coins will be burned according to sources.
We may have a gem coin here that could be not only 10X but much more to 20X or maybe 50X.
In two years' time, this could reasonably reach $6-$8 if so it would be 25X by then giving it a market cap of 1.35 Billion.
CargoX nominated for two strong Heroes of the pandemic awards at Transport & Logistics Middle East, among IBM, Accenture, TradeLens, Infosys, Amazon, and other leading logistics and supply chain companies
Very promising, do your own research to make an informed decision. Not a financial advice.
read more on their website cargox dot io
CargoX (CXO) Project Overview (Fib. Support/Resistance Mapped) CargoX (CXO) is so strong that we have to start with the weekly chart... Here prices are already trading above EMA100 which is a huge development, this pair is entering 'bull-run' space.
About CargoX (CXO)
CargoX aims to allow anyone to send digital documents to anyone in the world within seconds. CargoX describes itself as an independent blockchain courier service that competes with the likes of DHL, Fedex, and UPS. Established in Jan 2018, the CargoX dApp uses Ethereum for transferring digital original documents. Initially focused on the global freight and supply chain documents, the company, in 2019, began expanding its BDTS (blockchain document transaction system) solution to verticals like air cargo, with a view towards providing a universal solution for document ownership transfer that is reportedly fast, safe, reliable and cost-effective. BDTS's smart contracts provide audit logs of all sent documents and can prove that the documents were genuine and not tampered with during the transfer.
Source: Coinmarketcap.com
Website: cargox.io
---------------------------
We have here the classic "Cup pattern", which we looked at recently, already breaking bullish while aiming higher.
We are looking at the weekly timeframe so the signals are much stronger here.
The trading volume is going higher.
The RSI is super strong as well as the MACD.
As long as CargoX (CXOBTC) stays above EMA100, its value can continue to increase.
We remain bullish above EMA50, always.
We only go bearish if prices break and close below the All-Time Low.
Thanks a lot for your support.
Namaste.
50-50 chance trade on CXO. Great momentumBasically I can see CXO goes to 100 with anticipation to the q3 results,
Strong resistance at 71-73 and therefore our stop will be at 71.
It isn't the best risk-reward entring point but I will look closely on every drop for sizing up my position.
Yellow area - still buying opportunity
The RSI shows overbought so be patient,
CXO approaching resistance, potential drop! CXO is approaching our first resistance at 125.72 (horizontal overlap resistance, 100% fibonacci extension, 50% fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support (50% fiboancci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
CXO approaching resistance, potential drop! CXO is approaching our first resistance at 125.72 (horizontal overlap resistance, 100% Fiboancci extension, 50% Fibonacci retracement) where a strong drop might occur below this level to our support at 109.68 (50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
CXO approaching resistance, potential drop! CXO is approaching our first resistance at 125.72 (horizontal overlap resistance, 100% Fibonacci extension, 50% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 109.68 (50% Fibonacci retracement).
Stochastic (34,5,3) is also approaching resistance where we might see a corresponding drop in price.
CXO Weekly ShortLet us try my hand in stocks using Forex-learned price action movement.
Possible double top, currently trading as simply a resistance retest with a hint of broken support trendline.
Price seems to have touched the resistance at 147.55 area, but just in case, the sell signal for this is the breaking of that support trendline.
