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ORDIUSD trade ideas
ORDINALS SEASONORDI
Ordi has been in the top volume coins for almost a year now.
Based on the constantly high volume + the good price action; I expect it to be one of the best performance coins in the future.
I believe it's needs to drop in the $17 : $10 range in order to find it's major bottom.
Passing $41 confirms finding the bottom imo and targeting a new ATH.
ORDIUSD Forecast: Alts Season Prospects and Key Support LevelsORDIUSD is poised for substantial growth as a new project, reflecting the trend of rapid acceleration seen in new projects during bull runs. As a BRC-20 network payment coin, ORDI mirrors Bitcoin’s total supply, fostering scarcity and demand. The Ordinals protocol enhances the Bitcoin experience by allowing data addition to Satoshis, creating Bitcoin-powered collectibles and NFTs. With a maximum circulating supply of 21 million tokens already reached, ORDI holds significant potential.
Currently, ORDIUSD has strong support at $34.89. This level presents a high probability of a significant gain. If this support level breaks, the next robust support is at $17.9, from where a bounce is expected, especially as we approach the alt season. Historically, alt seasons have brought increased volume and volatility, expected to peak in Q4 2024. It's crucial to be prepared for substantial market movements and to consider exiting positions by Q1 or Q4 2025 as the bull run is likely to end around that time.
ORDIUSD's calculated bull run targets suggest a minimum price of $330. If this resistance flips by Q1 2025, we could see a maximum target of $465. The upcoming alt season is expected to bring the same level of unexpected pumps and volatility. It's important to manage trades actively and keep an eye on resistance zones. Long positions should be exited by Q1 or Q4 2025.
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ORDI - The Bullish Case (2nd scenario)In this scenario I expect ORDI to compete start a new impulse motive wave. That's in case the correction of the bullish move had started from Jan2024 via an expanded flat wave.
If this scenario is accurate then we should see ORDI in 3 digits soon.
ORDI - The Semi Bullish Case (1st scenario)In this scenario I expect SEED_DONKEYDAN_MARKET_CAP:ORDI to compete waves B & C in a main zigzag wave that would bring the correction of the great bullish move SEED_DONKEYDAN_MARKET_CAP:ORDI had since Oct2023 to an end.
I expect after this correction ends a new all time high.
Ordinals #ORD - Double BottomTechnically and fundamentally #Ordi should be a good a pickup for this next cycle
Bitcoin ordinals will be hot for a while at some point :)
21 million supply is obviously a good narrative
Bringing speculation to the #BTC chain obviously good for attracting speculative capital flows
$5.75 target could be archived in the next couple months.
ORDI price ready to bounce higher to the $100 milestoneBullish Reversal with Double Bottom: ORDI showcases a bullish reversal, underpinned by a double bottom pattern, suggesting a strong foundation for upward movement.
Triangle Breakout in Daily Chart: The breakout from a triangle pattern in the daily chart indicates a potential for a high momentum rally.
Potential to Cross $100 Mark: With the current momentum, ORDI has the potential to surpass the $100 threshold this month.
Recovery from Support at $50: After a reversal from $83, ORDI finds strong support at $50, setting the stage for a bullish continuation.
Breakout Event Fuels Entry Opportunities: The recent surge in momentum provides a prime entry spot for sideline traders.
Reclaiming the 50-Day EMA: A 21% jump in the last four days helps ORDI reclaim the 50-day EMA, indicating a bullish market sentiment.
Rising Intraday Volume Supports Bullish Reversal: The increase in trading volume supports the bullish trend, enhancing the likelihood of a breakout.
Technical Indicators - RSI: The RSI's sharp reversal from the oversold boundary and crossing above the 50% mark signals growing bullish momentum.
Current Trading Position: ORDI is currently trading at $63.22, showcasing a bullish engulfing candle and a 7.63% intraday growth.
Breakout of $65 Signals Entry: A breakout above $65 could provide a clear entry signal for investors on the sidelines.
Risk of Retest on Reversal: A potential reversal from $65 could lead to a retest of the recently broken trendline.
ORDI Price Targets $100 in Early 2024Current Performance: ORDI price demonstrates a bullish double-bottom breakout, currently challenging the $75 mark.
Retest Phase Opportunity: A short-term pullback offers a potential entry point, as ORDI undergoes a retest phase.
Bull Run Potential: Post-retest, there's a strong likelihood of a bullish rally towards the $100 threshold.
Market Context: Despite Bitcoin's stagnant performance, ORDI stands out as a resilient performer, attracting new investor interest.
Resistance Challenge: Key resistance at $80 could lead to a temporary pullback, but the overall bullish trend is intact.
Technical Analysis:
4H Chart Outlook: ORDI's bullish trend is evident, with potential to extend towards $100. However, ascending resistance may limit immediate gains.
Fibonacci Retracement: The 61.80% level is retested, hinting at trend continuation, with a focus on breaking above the resistance trendline.
Current Trading Price: ORDI is trading at $76.41, facing resistance at the overhead trendline.
Technical Indicators:
EMA: Positive alignment in key EMAs, but a pullback might retest the 50 EMA at $67.10.
RSI: Indicates a recovering trend, but bearish divergence calls for cautious optimism.
Future Outlook: ORDI's trajectory is promising, supported by growing interest in BRC-20 tokens. A breakout beyond $100 is plausible, especially if Bitcoin surpasses $45K.
Downside Risks: A potential downturn could see ORDI retesting lower support levels around $60.
Analys ordiwe observe a breakout of the triangle pattern, announcing the start of a bull market.
This is not advice, just an observation, do your own research
ORDIUSD turning parabolic again. Don't miss it hit $100.Ordinals / ORDIUSD is trading on a parabolic curve supported by the 1day MA50.
Its first bullish leg gave a +90% rally. The second delivered an impressive +468%.
As long as the parabola holds, buy and target the psycological level of $100 (+468%).
Previous chart:
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Shorting ORDIUSDT From 17.8$Shorting ORDIUSDT From 17.8$ as its already bounced back from its high, now struggling to go up, 20$ is major resistance, my initial target 16$ then 14$ and will hold rest of 25%
