OXT Is Just Getting Warmed UpOverview
- Overall OXT has performed very well today but it still has a long way to go long-term. Let's start from the top!
Price Chart
- 1hr timeframe chart with the 20/50/200 MA's and price is currently inside a micro triangle, that's in a macro triangle
- Previously broke out of the 20-50MA range and now forming a micro triangle before hopefully continuing to the upside
- Closing the daily above $0.59 would be insanely bullish, above $0.55 still bullish
- In time expect to hit the resistance line(green) of the macro triangle, meet/break $0.74, rise up to $0.84
- Remember this is a patient trade, OXT is like an upgraded saving's account :)
RSI
- On the RSI you'll see the channel OXT is currently in
- RSI is now on the lower part of the channel so it's getting more likely to see a rise in price action. (Although the higher the time-frame the more likely price will rise)
- In some cases the RSI will be too high on the bottom of the channel which causes a dump. This happens so the indicators can get reset so it can form another channel at lower values
4-Hour Chart
- Could see a short-term decrease in price so RSI value can get lower, still great structure
1-Day Chart
- Daily looks very bullish long-term
BTC Dominance
- Dominance is still showing signs of an alt season
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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
