OrchidLong
How OXT Could Hit $1 Before May
Updated
Overview
- 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: orchid.com/oxt
- OXT VOLUME: coinmarketcap.com/currencies/orchid/
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
- 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: orchid.com/oxt
- OXT VOLUME: coinmarketcap.com/currencies/orchid/
Inverse H&S on BTC
- Overall looks awesome, once RSI triangle is broken could see another breakout and maybe test
65KIf 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
Note
-OXT's Volume is now sitting around 400Mil! - Overall looks good but will get more excited if $0.915(grey line on fib retracement). This happens there's not much stopping OXT from hitting $1 or more
- Daily stoch value indicates there is still more room to go
Found some news that is a little old but has some good info. Talks about how Orchid trying to make it accessible to all: decrypt.co/63437/cheap-gas-orchid-labs-is-using-xdai-to-drive-down-the-cost-of-its-vpn?&utm_medium=referral&utm_campaign=feed&utm_source=coinmarketcap
Note
BTC's recent small dump changed OXT's price but the long term play of breaking through $1 is still in play!- Could be forming a bullish flag with support of $0.78
- Maintain support and bullish flag could potentially send OXT to claim $0.85 as next support
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