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Origin Protocol / Bitcoin

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OGNBTC trade ideas

Long OGN TOKENHi guys, i hope you are well. So last week we had some profitable shorts which i shared. This week am looking for long opportunities. In my opinion OGN might outperform bitcoin short term. My analysis is simple on the short term bitcoin seems to be developing a bottom. so we might see a break to the upside. Looking at this chart we can see we actually brokeout from the bearish pressure and The bulls have constantly tried to rally the token and have actually managed to post a higher low. So this looks like a nice opportunity to buy in anticipation it will outperform bitcoin in the coming week.
Long
by trader734567
1
Will Origin fly?Will Origin fly? Let's wait and see! Analysis Uptrend on Weekly Timeframe (+) Uptrend on Monthly Timeframe (+) Uptrend on Daily Timeframe (+) Uptrend on major trendline (+) Support above 200MA (+) Support above 20MA (+) RSI in bullish region (+) RSI support above 50, might get flipped (*) Resistance at 50MA (-) Resistance at 2350 and 2432 sats on daily timeframe (-) MACD approaching middle line (+) MACD line above signal line (+) MACD Momentum is growning but not enough (*) Volume is also low (-) Entry Point Right now the price is supported by the major trendline, 20 and 50 MA. But there is a major resistance at 2350-2432 sats. If the price can break, that will be a good sign, and the retest on the daily support will be a good entry. Early entry before that will be a gamble, if it consolidate for the next 30 days. Target Points TP1 at 0.00003426 with 41% gain TP2 at 0.00004250 with 76% gain TP3 at 0.00005300 with 120% gain Conservative TP at 0.0003183 with 30% gain at the next major weekly resistance Investor Investment Theme: Polkadot Ecosystem Investment Horizon: Short Term Category: E-Commerce, Marketplace, NFT Origin Protocol is a network that allows market participants to share goods and services in a decentralised manner. The platform is built on Ethereum blockchain and using Interplanetary File System (IPFS) for storage to eliminate the need for middlemen services. So far they launched NFT website for popular artist, but they need to get more traction and good marketing to take the market share from Shopify, which is there direct competitor. One attractive thing about this project is the team, most of them had worked with the silicon valley giants like PayPal, Youtube, Google and Dropbox, which is good. Price Prediction Price prediction model keep the circulating supply of Origin token constant at 316,411,833 1.4 Trillion Total Market Cap, 0.02% Share, $0.88 2 Trillion Total Market Cap, 0.03% Share, $1.90, +214.29% Gain 3 Trillion Total Market Cap, 0.04% Share, $3.79, +428.57% Gain 4 Trillion Total Market Cap, 0.05% Share, $6.32, +714.29% Gain 5 Trillion Total Market Cap, 0.05% Share, $7.90, +892.86% Gain 6 Trillion Total Market Cap, 0.05% Share, $9.48, +1,071.43% Gain 7 Trillion Total Market Cap, 0.05% Share, $11.06, +1,250.00% Gain ** I'm a novice trader, and this is part of my studies. So it's strictly not a financial advice. Feel free to share your thoughts and feedback about my analysis.
by pseudocode88