Overview
- We all know charts contain data that's waiting to be explored. Since we now have more data to work off of after the previous breakout, I found something that made me feel pretty relaxed and hopefully it does for you too!
Price Chart
- I don't normally look at the 1hr chart but when I did I wished I looked at it a lot earlier. The bullish flag pattern really is only made up of two lines with the resistance line having the sharper of the two angles. With the new data, we can see that $0.56 is an area of support for this flag. We can also see that the $0.56 area has been tested multiple times and price even quickly jumped back above it when ALT prices were falling double-digit%.
- On the day we almost touched $0.80, I did some weird calculation and came up with a range of 8-11 days before we see a break to the upside. We are currently at day 6 and in a couple days(Day 8), the 20-day moving average will be coming to get real close to the price if it continues the way its going. Could this be when the breakout occurs? Interested to hear what you guys think
RSI
- The secondary bounce line(lower red line) is proving to be useful. You can see that the only time it was broken was when the ALT's tanked temporarily, then, quickly shot back up above the line.
BTC
- Remember, if BTC decides to crash it's most likely that OXT will too.
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
- We all know charts contain data that's waiting to be explored. Since we now have more data to work off of after the previous breakout, I found something that made me feel pretty relaxed and hopefully it does for you too!
Price Chart
- I don't normally look at the 1hr chart but when I did I wished I looked at it a lot earlier. The bullish flag pattern really is only made up of two lines with the resistance line having the sharper of the two angles. With the new data, we can see that $0.56 is an area of support for this flag. We can also see that the $0.56 area has been tested multiple times and price even quickly jumped back above it when ALT prices were falling double-digit%.
- On the day we almost touched $0.80, I did some weird calculation and came up with a range of 8-11 days before we see a break to the upside. We are currently at day 6 and in a couple days(Day 8), the 20-day moving average will be coming to get real close to the price if it continues the way its going. Could this be when the breakout occurs? Interested to hear what you guys think
RSI
- The secondary bounce line(lower red line) is proving to be useful. You can see that the only time it was broken was when the ALT's tanked temporarily, then, quickly shot back up above the line.
BTC
- Remember, if BTC decides to crash it's most likely that OXT will too.
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
- Happy Trading