By looking at this chart, OXTUSD (Orchid) we can learn about the difference between a flat bottom and a rounded bottom.
Just as it happens with a consolidation phase, the longer it takes for a breakout to happen, the stronger the ensuing move becomes.
Orchid is now facing the current bottom pattern resistance.
Once this resistance breaks, we can expect very strong growth.
It has been battling with this resistance for months.
The bulls have the upper hand now, this pair is ready to grow.
Namaste.
Just as it happens with a consolidation phase, the longer it takes for a breakout to happen, the stronger the ensuing move becomes.
Orchid is now facing the current bottom pattern resistance.
Once this resistance breaks, we can expect very strong growth.
It has been battling with this resistance for months.
The bulls have the upper hand now, this pair is ready to grow.
Namaste.
Note
+60%Note
We have a full correction ending in a higher low, a new round is now possible.Note
The potential is now open for a higher high compared to 11-Aug.Orchid can challenge its February 20 high next... Huge potential with more mid-term.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.