Orchid ( OXT)OK we have inverted head and shoulder pattern which is usually a strong continuation pattern. the TP is usually the height of head to neckline. now we need a pullback with low volume back to neckline to confirm continuation.
OXTUSDT trade ideas
OXTUSDT - 4HI'm watching OXT for a while now, it's currently not doing much but the range is getting so tight and i think soon this will result in a big move!
For every new follower i will add a new idea :)
🆓Orchid Protocol/USDT Analysis (1/4) #OXT $OXTOXT still stuck under the 0.75$ zone, if it couldn't conquer this zone, it will go down gradually to 0.65$ or 0.6$ zone and then start new rally up to 1.15$ zone
📈BUY
-Buy: 0.635-0.665$. SL B
-Buy: 0.73-0.77$ if A. SL B
📉SELL
-Sell: 0.73-0.77$. SL A
-Sell: 0.88-0.92$. SL A
-Sell: 1.22-1.28$. SL A
♻️BACK-UP
-Sell: 0.585-0.615$ if B. SL A
-Buy: 0.44-0.46$. SL B
❓Details
Condition A : "If 1D candle closes ABOVE this zone"
Condition B : "If 1D candle closes BELOW this zone"
The Orchid Digital Currency ; (OXT/USDT analysis )❇️(coinmarketcap data:
Rank #179 , kind:Token , On 40,590 watchlists
Market Cap:$258,439,377 , Fully Diluted Market Cap: $695,401,125
Volume24h:$75,198,388 , Circulating Supply: 367,584,352 OXT- Total Supply: 1,000,000,000
( (1 billion) units. There is no inflation, but the possibility for deflation is maintained by possible token burns of OXT as part of regular network function.
Of the total supply, network incentives : 51.13% oxt (held in the Orchid Treasury) and other purposes.
17.3% went to investors as part of the seed Simple Agreement for Future Tokens (SAFT)
, 4.49% for SAFT 2a
and 3.38% in SAFT 2b.
The remaining tokens will be distributed among four development teams. Multiple vesting schedules are in place, depending on the purpose and destination of the tokens .) )
What Is 🌟Orchid (OXT) 🌟 ?
Orchid (OXT) is the native token of Orchid, a cryptocurrency-powered virtual private network (VPN).
Launched in December 2019, Orchid describes itself as the world’s first incentivized, peer-to-peer privacy network.
Its aim is to overcome internet freedom limitations by using cryptocurrency payments to allow anyone to purchase bandwidth from any participating provider. This is done using so-called probabilistic nanopayments, which occur using OXT, an ERC-20 standard token on Ethereum.
Regular payments to providers occur off-chain, allowing Orchid to avoid problems with congestion and gas fees on the Ethereum network.
❇️ Cost to use Orchid VPN;
Orchid is uniquely designed to offer online privacy at a competitive cost. The design is intended to result in bandwidth being priced dynamically to meet the needs of both users and providers. This is done through a unique decentralized bandwidth marketplace, where numerous providers can compete to offer their services to users.
The price of bandwidth on Orchid is designed to fluctuate with the market, so there is no set "price" of bandwidth on the network. Bandwidth providers are free to set their own rates, and Orchid itself does not mandate pricing. Nonetheless, we expect prices to remain competitive with existing VPNs and privacy solutions.
❇️ Who Are the Founders of Orchid?
Orchid’s four co-founders come from the blockchain and financial spheres. They are Dr. Steven Waterhouse as CEO, Jay Freeman, Brian J. Fox and Gustav Simonsson.
Waterhouse is a well-known figure within cryptocurrency, having also co-founded venture capital outfit Pantera Capital, which is responsible for investing in some of the industry’s most popular companies.
Freeman is the creator of Cydia, an alternative Apple App Store for jailbroken Apple devices and currently used by around 30 million jailbroken Apple products.
Fox is responsible for the creation of United States bank Wells Fargo’s first interactive online banking system in the mid 1990s.
Simonsson, meanwhile, is one of the Ethereum network’s core security developers, helping with its original launch in 2015.
According to official literature, Waterhouse became alerted to the need for internet privacy improvements after becoming the victim of a SIM-swap attack, and began researching VPN technology.
refrences: coinmarketcap - orchid.com
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✅TECHNICAL ANALYSIS
As you can see in the weekly time frame chart for OXT/USDT, the price is trading at around $0.7 .
Orchid has been able to form its cup pattern beautifully, and I think it is going to forming its own cup handle, so it can correct down to the support areas, and if the support breaks down, you can buy more confident in the lower support, but probably it'll do down to $ 0.5. then maybe it'll Come up to TPS of $ 1.32, $ 2, $ 3 and then finaly $ 4.5 , with my usual Stop-loss of about 30%. When the targets were hit respectively, You can manually move the stop-loss below them again( trailing stop-loss) .
(Anyway, my constant suggestion to my dear community is to buy step by step (or in a few steps) , With proper capital and risk management and by setting stop-loss , To reduce their risk, Because this crazy market also depends on the odds and there is no certainty.)
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👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades
👍plz hit that damn like button if you like it
ORCHID Inverse H&S ActivatedLet's see if they give us a chance with a pullback to the neckline! 0,73 May be a good zone.
OxtKeeping my eye on this guy again. It’s a slow mover but looking for it to start maintaining support above 72-75 cents. The red ichumochi cloud resiatxne at 71-72 cents. Big volume spike came in. Most of its life it hasn’t been able to maintain support above 75 cents. If it can finally do so it could be an extremely bullish time. No gaurentee but looks like descision time is around the corner. I’m invested since 20 cents bought more at 55 cents been holding a while. I think it may have some bullish times ahead but for shorter term it looks to want to be breaking this .72 cents resiatnce very soon
Below 66cents is a breakdown above .72 is a breakout. Let’s gooo
OXT LongCup handle formed with tightening EMAs and MACD divergence.
Next support @ $0.42, inclined to $1 before June.
oxtusdt goes for $1.OXT appears to be approaching a strong resistance point. the $1 target point.
is not investment advice.
OXT to the moonOXT just got out of the accumulation zone (yellow box) and got a nice retest. Market is in uptrend
Long at the green box or breakout of trendline in H4 timeframe
H4:
Target 80% at 0.85 - 0.95 and let 20% remaining for mooning.
Best time to buy oxt is now, retest is almost completebuy between 62 and 70 cent
1st target 90 cent
2nd target $1.31 , gl.
OXT for another Impulsive Elliot Wave?The recent dip may have been caused by BTC while OXT will be having a summit that features Edward Snowden, I myself am not pretty sure how bullish the event is but will be keeping an eye on how this coin behaves.
It's pretty interesting to see OXT has been through really impulsive waves in the past...
See you guys next week:)
OXT to break out soonAwaiting a Daily close outside the channel for OXT to pump big, more price discovery awaits.
See BAT idea linked below for what can happen.
Hit Like and Follow for regular updates on progress.
OXT USDTLook forming IHS pattern
Support 1 : 0.7
Support 2 : 0.63
TP : 0.8 - 0.85 - 0.9 - 0.95 ---- 1.0 ++++
DWYOR and Good Luck
Two things in the world I am certain of1) OXT price discovery/will never see .30 cents in the next year or so
2) Massive cup and handle with a 2 year base.
3) Dumb money (I know I said 'two', but I had to include this one. If you know, you know)
Do your own due diligence. I am not a financial advisor.
OXT/USDT Looking for support. Possible Entry between 0.35-0.45$Orchid (OXT) is a decentralised VPN provider.
Since VPN is more and more a topic due to data leaks I guess OXT will continue to grow.
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Green lines are tested support lines.
Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
Cyan line is for volume trendline.
Purple lines are trendlines we take a look at.
Yellow lines are for visual help only.
