Make OXTUSD Your Valentine This HolidayOverview
- This altcoin will be having an interesting future as long as BTC does not dump. If your short on time, know that OXTUSD is still very bullish in my opinion and has some more gas in the tank. Let's start from the top!
Price Chart
- Made flags easier to see (with time frame) from starting high to breakout
- Added $0.59 primary support and $0.49 as secondary support
- For the current flag I would like to stay in this area 8-11 days to continue the pattern of breaking resistances and setting new supports
- If you're interested in how I got 8-11 range,
1) I did 6/4 which was 1.5 and multiplied by 20% to adjust for higher volatility from higher prices which = 0.3
2) Added 1.5 + 0.3 to get 1.8
3) Multiplied previous day length(6) by 1.8 to get 10.8 to get longest date
4) To make range, subtracted 3 from 11 to get 8
5) We'll find out if formula will need adjusting in future but an idea is better than nothing
- If BTC does not crash, expect a bounce or breakthrough $1 on the next rise up
MACD
- When MACD line(Blue) passes Signal line(Red), notice that a couple candles away from that crossing, the high was set for the flag.
- Notice that after every time a breakout occurs, the next breakout tends to have a longer consolidation period
- Negative momentum will be seen soon, hopefully in the shape of a "U" like the second flag negative momentum
Stoch
- Could either bounce off of path 1 and have higher prices(In flag) or slowly fall to path 2 which is what I would like to see since the previous declining stoch pattern ended in a breakout
RSI
- Would like to see us bounce off the green trend line for a couple days, then break to the lower red trend line to make that double bottom to help prepare us for a big bounce to $1
If you guys enjoyed this analysis or learned something new, please like this post so more people can be aware of the possibilities of this coin.
As always, if you're invested in this asset or just interested in the price action, feel free to follow for DAILY UPDATES for this coin.
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
