OXTUSD trade ideas
OXT/USD PitchforkBouncing this off an idea from a friend.
OXT has a solid foundation, and unlike other altcoins, it seems its growth is more sustainable, partly supported by significantly lower gas fees through the xDai blockchain. Edward Snowden backing, pay per use model and customizable user experience makes this an interesting altcoin for medium hold.
Should be interesting to see how this scenario plays out. Strong resistance at the 0.92 and $1.00 levels. After that, who knows.
Will be interesting to see how it acts close to the 1.2-1.25 level as many have pointed out as the next high, given that this rally hasn't played out in the pump and dump fashion in which the previous ATHs were observed.
OXT BUYSAccumilation and break of downtrend to confirm move to the upside
For optimal risk and reward you must look for rejections of trading range(Support) Which is in confluence of retesting break of structure.
Sitting on this to move to the upside.
A deeper dive into OXT price action*Beginning trader and technical analyst. I received my trading education from TRi, school of trader development. **This is not trade or financial advice, but posted for entertainment.
I hope this chart isn't too messy. Had a lot to say.
I like this crypto. Yes, VPN, isn't sexy like NFT's, Defi, or the almighty BTC, but it is a fundamentally important growth component to the future of an internet with robust privacy and free of censorship. There are big VC names behind this crypto too, Sequoia and A16z. Why does it seem to be just hanging out? I find sometimes that I have to check my opinions and emotions at the door. I tell myself things like " oh this thing hasn't popped, so I'm going to get in early because I know it just hast to." or even "There are big VC names in it so it must be good." May be you have some of these feelings too? But what does the tech say? Am I being realistic about what this crypto is going to do today, tomorrow, next month or even next year?
I want to be bullish this name. I think it has big upside potential, low market cap, relatively low coin supply, right now. I don't think we are bearish yet, but I don't think we are screaming bull. And when Bitcoin is going nuts like it is, we all know that any moves, up or down, can totally invalidate technical analysis on alt coins.
So here are some of my thoughts on OXT (posted in the chart). I've become a little obsessed with OXT right now, so I will try to keep posting my thoughts. It seems like this coin may be manipulated. Seems to be a lot more potential buyers than sellers on the order book but not the price movement to reflect it. Im not the best at reading DOMS or order books , so if you have an opinion on that or any other aspect of my analysis please share as I would love to hear it.
It is looking a little toppy. Maybe it will put in a double bottom off a bounce at the 50% of the range at approximately .73. Ultimately, the markets going to do any damn thing that it wants to do-I keep this in the back of my mind when trading. Trade it don't date it.
COINBASE:OXTUSD
OXT No Need To WorryAs long as .78 can hold as support OXT is only beginning a massive journey.
We could see brief dips below in coming days but bigger picture we would like to see a weekly Candle Body close above .78 USD.
That would be extremely bullish.
Price discovery can be a fantastic time for asset holders.
Real world usability and demand to pull OXT higher in cmc ranking list.
not investement advice. DYOR.
OXT Weekly RSI Breakout Incoming?Hey everyone,
Was taking a look at the weekly chart for OXT today and noticed on the RSI a potential imminent breakout of a symmetrical triangle. As you can see, there is little room left within this triangle which means there potentially could be a breakout of this triangle this week. The start of this pattern began the end of January 2021.
Additionally, we can see that in consecutive weeks, OXT has closed above previous resistance of .7825, which was the high during the week of August 17th, 2020 & Feb 8th, 2021. There is strong selling taking place between .83 - .90 cents. if we can break through this area, I believe we will see OXT moving to $1.00 and then to the top of the ascending channel to $1.12. Eventually, OXT may reach $1.50 which is the 1.618 extension of the previous high to low of 2020 (I am quite the novice with this tool so feel free to correct me).
A break back down through the .7825 support could bring OXT to .69 cents and possibly (unlikely imo) .63 cents (bottom of the channel).
Curious of your thoughts on this!
$OXT Looking to Breakout SoonKeeping this chart simple:
$OXT looking primed to breakout, and I’m betting on the upside. Daily close above $0.8178 (blue dotted line) would give us a short term target of $1.4969, but my long term target is much higher.
The low volume (yellow dotted line) typically indicates a breakout is imminent. Higher time frame indicators look good for continuation higher, as well as the underlying bullish crypto market.
OXT/USD Weekly Chart, Inverted
Sometimes I like to invert my charts just for a different perspective. If this was top I would be thinking bear , I certainly would be looking for locations too short (but remember the chart is inverted 🐂). Perhaps the $1.00 wick, exactly $1 wick, come on! This seems like a really important level for me. I think OXT over time will grow even more bullish, but if BTC changes its mind that can really throw all TA out the window, IMO.
*Not trade or financial advice
Beginning trader and technical analyst. Just trying to learn something new everyday. Always appreciate any feedback.
COINBASE:OXTUSD
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OXTUSDT- BREAKOUTOXT is looking bullish since breaking out of the recent re accumulation and sideways movement price is now forming a big ascending triangle on the daily timeframe. Waiting for a break above the horizontal resistance before looking to long.
Will OXT hit $1.00?Hello,
This is the chart I made in February 20th. What do you think? I'm new in trading.
My opinion is: We will soon see 1$.
Targeting: $1.00-$1.10
News:
On March 22th there will be OXT event called "Summit on Privacy"
OXT/USDHello all!
OXT is the digital asset token used to pay for VPN services on the Orchid network. It is built on Ethereum in accordance with the ERC20 standard for tokens. OXT can be bought and sold for fiat currency or other digital currencies.
OXT is another Token I currently hold on my Gemini account. It wasn't long ago that I invested into this token also. With a fixed supply of 1 Billion OXT Tokens and currently 367.58 million circulating, I see this token as great investment with greater potential ahead. In the 4hr chart, I explain areas of my liking to add more longs into this token. The 4hr RSI is currently overbought and I can see on the chart that the RSI has been respected before. Fib shows areas of interest for me to add more to this investment.
I am not a financial advisor, this is my opinion on OXT based on technical analysis and information I read and listen too. You all gather your own information and proceed with your alls likings. I wish the best of luck to all!
Orchid is blooming 💗 What will happen next?I spot a breakout on the daily chart and I feel that we may surpass $1 soon. I smell an extreme yum yum style, tbh! $1 is just the beginning, not the price target! I reckon it'll surpass it! But who knows!
What are your thoughts? comment below 😊
not investment advice
How OXT Could Hit $1 Before MayOverview
- Overall OXT has a great lookout and if the inverse H&S plays out on BTC, $1 could come fast for OXT. Let's start from the top!
Price Chart
- Daily chart with multiple triangles where I believe we could see the price in the future based purely off TA. Obviously, any random factor could play a role in OXT's price that could go against this prediction
- If price does not continue to rise up at this point, could be making a bullish flag pattern that is similar to what OXT created in the $0.26-.80 range(better seen on 4HR)
- $0.74 could become the next support and we could see some more boring couple days before it gets exciting again
- Since $0.80 was hit the first time, OXT Could be forming a huge inverse H&S. Not perfect because there was lots of selling in the market, otherwise, I think it would be close to text-book. If this pattern is in play, $1 could become very likely(neckline made by blue line)
- Starting to get into areas where OXT does NOT have a lot of daily candle closes. Continue to rise and OXT won't know where to stop :D
RSI
- Pretty similar to price chart. If $0.83 is clearly broken, price could continue as high until the RSI value hits the green trend line. Break that and it's popcorn time
Stoch
- Stoch value is high but could bounce around in this area which would only mean higher prices before retracting and making new supports
Extra Info
- Learn about OXT here: www.orchid.com
- OXT VOLUME: coinmarketcap.com
Inverse H&S on BTC
- Overall looks awesome, once RSI triangle is broken could see another breakout and maybe test $65k
If you enjoyed this analysis or learned something new, please LIKE this idea 👍
FOLLOW for important updates for this coin and helpful trading strategies 🏆
Once things settle with a project I'm working on, expect to see trade set-ups on Coinbase USD pairs!
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
OXTUSD - BREAKOUT - BULLISH FORMATION 18-3-2021OXTUSD
Breaking out from the descending triangle, very bullish sign. Going to the targets
Reasons to be bullish
1) MACD 4 hours flip green
2) RSI above 50
3) Breakout patterns formed
4) Greed index increased
5) Above all MA on 4 hours TF
6) Above weekly VWAP
First target will be at 1.382 fib level at 0.99, second target will be at USD 1.07 (1.618 fib)
Hold it to the moon guys!!
$OXTUSD - Bullish continuation above 0.75Hello everyone!
Orchid looks strong and very bullish and hopefully this pace will be held for longer time.
For now I believe it's very risky to long OXTUSD, I'd suggest you to wait for closing above 0.75 and go long.
OXTUSD might also correct a bit and bounce, though I still believe the best would be to enter above 0.75.
PUMP & DUMP OXTIm not exactly happy with it. but it worked out in my favor this time... the only reason this skyrocketed was because some influential person used their following base to schedule a pump and dump scheme. illegal in all other security/stock tradeing exchanges. but sec. has yet to determine if crypto falls under a securities/currency or if it is just merely a consumer good. able to be done with as they please because its then private property not public liability. if you were going short that just screwed you.... it usually woulda been my loss... guess sometimes old stop loss fails and you take a nap at just the right time.... to not beat yourself! I beat myself more often then charting errors and bitcoin volatility has ever got me.
