Possible Patterns For OXTUSD
Overview
- OXTUSD has been quite unpredictable all thanks to BTC price fluctuations but I hope this can still provide some type of an idea on what OXT could do next. Let's start from the top!
Price Chart
- Added two possible patterns, the falling wedge and the inverse head and shoulders. Both of which, would not be considered your "text-book" examples as they are not perfect, however, they are bullish patterns
- Would like to make separate ideas on these trading patterns so stay tuned!
- With BTC getting closer to 50k, we're starting to see some more volatility within ALT's. It's possible that if BTC breaks 50k, money could be poured back into BTC and away from the ALT's. OR, everything could benefit from BTC's ATH. It's hard to say since we have never seen cryptocurrencies at this current level and frustrating to me because I only want to give you guys the right data. Could we start seeing massive pull backs occur and in a couple years have 50k be the new ATH to beat instead of 20k? Really interested to hear what you guy's think.
MACD
- Last time we fell under the green line it led to a breakout, could we be seeing the same thing again?
Stoch
- Certain that the stoch indicator will fall back to the yellow line and bounce off. This could indicate a time to add to your bags or enter a trade position(risky at these levels)
RSI
- RSI is doing a great job of bouncing off the red line on the 3hr. Hope to see this pattern continue
I do my best to bring all the data to the table so 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 useful trading strategies and 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
- OXTUSD has been quite unpredictable all thanks to BTC price fluctuations but I hope this can still provide some type of an idea on what OXT could do next. Let's start from the top!
Price Chart
- Added two possible patterns, the falling wedge and the inverse head and shoulders. Both of which, would not be considered your "text-book" examples as they are not perfect, however, they are bullish patterns
- Would like to make separate ideas on these trading patterns so stay tuned!
- With BTC getting closer to 50k, we're starting to see some more volatility within ALT's. It's possible that if BTC breaks 50k, money could be poured back into BTC and away from the ALT's. OR, everything could benefit from BTC's ATH. It's hard to say since we have never seen cryptocurrencies at this current level and frustrating to me because I only want to give you guys the right data. Could we start seeing massive pull backs occur and in a couple years have 50k be the new ATH to beat instead of 20k? Really interested to hear what you guy's think.
MACD
- Last time we fell under the green line it led to a breakout, could we be seeing the same thing again?
Stoch
- Certain that the stoch indicator will fall back to the yellow line and bounce off. This could indicate a time to add to your bags or enter a trade position(risky at these levels)
RSI
- RSI is doing a great job of bouncing off the red line on the 3hr. Hope to see this pattern continue
I do my best to bring all the data to the table so 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 useful trading strategies and 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
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