OXTUSD trade ideas
History has a tendency to repeat itself.I’ve found that chart patterns frequently repeat themselves, and this occurs in all markets, whether it’s equities, forex, crypto, etc. You can find almost identical movement in every time frame.
For OXTUSD's chart in particular, you can see a shape that’s similar to an “m” frequently through its down trend. You can spot this throughout the 5-minute, as well as any of the higher time frames.
If you zoom out on the chart and look at the daily, we are making the same exact pattern that we made when OXTUSD was first listed. It’s nearly identical. I have the first big run it made as well as the sideways movement that followed overlayed onto its latest big run.
So in my humble opinion, I don’t think this is where OXTUSD breaks out. I think we experience some slight downward followed by sideways movement for a while like it did before.
** Please note that I’ve only been trading since March. I am still very inexperienced. The ideas that I post are solely used to help me improve upon my own skills. I like to reflect on my ideas and see what I did wrong and determine how I could have done better. My ideas are not to be taken as financial advice. This is an update to my previous analysis on OXTUSD. **
OXT Orchid end of consolidation and ready to restart ?OXT
Major impulse
Consolidation almost finished
Ready for a next impulse?
OXT $1.80 target in the coming weeks!!!Trade it if you will, but looking at a repeat of last cycle. OXT is a relatively small cap coin listed on large exchanges. Price moves and swings up/down like this are highly expected. Volatility is low right now and this should be viewed as a buying opportunity before the next leg up.
Are we there yet?Kid: "Mom, are we there yet?"
Mom: "If you ask one more time I'm gonna come back there and whip you!"
OXT Due a Pump- BUT WHAT ABOUT EQUITY DUMP?FUNDAMENTALS:
If you have done your research, it will already be clear that the Orchid Network is a great project. Here are just a few reasons why:
Full release of Android, iOS, Windows and Mac apps recently. The application has been in beta testing over the past months but is now live.
OpenVPN and WireGuard, VPN network providers have partnered with Orchid. This will increase user connectivity speeds and allow for network scalability. I use the VPN regularly with little to no issues.
One may stake OXT tokens to become a bandwidth provider- this means that one is able to earn OXT through fees from selling their bandwidth to network users. Setup is currently the barrier to entry as it must be built from source code provided on Github. This is due to change soon! Orchid Network are developing an easy to use platform which can facilitate this.
TECHNICALS:
Bullish flag pattern/ descending wedge. Most people here will have already identified this, however, I am using Fib Retracement to speculate on where the next pump will end (roughly 400% from here- sounds like a lot but the market cap is only 17.3 million GBP).
Down then up?Based on past price movement and current market conditions, it is my opinion that this is the path we will take to *finally* break out of this falling wedge.
$OXT Long-term Weekly chart for $OXT for long-term trend. Used EW and I think we're finishing up the 4th wave at the 0.618 fib. We'll keep an eye on $BTC to see any movements lower or to invalidate this chart. I'm eyeing the 5th wave to $1.50 - $1.80.
Cluster f*ck.OXT is trapped under various possible resistances. Until we get a decent surge in volume, I expect to remain under this area for a while and see very slow movement.
BTD OXT BULLISH FORMATION CONFIRMEDBuy the dip, huge cup and handle formation spotted on day chart. This is not financial advice.
OXT jumps on high volume falls on low volumeOXT jumps on high volume falls on low volume
we either do one more bounce to break all time highs or that was it and we are almost retraced before assenting higher. This is not based on fundamentals but bullish atmosphere in the market.
Also I am a painter and these are my paintings - not financial advice.
HiPerhaps this is what we will see?
It is respecting each resistance line as it progresses upwards..
**I am not a trading advisor and this is only for illustration purposes**
Im new here, wondering if i have this simple concept down.Does this mean it should go up? if there is enough volume?
