OXTUSD wake up and smell the orchidsThe OXTUSD chart looks unbelievably bullish. There is a huge amount of resistance between here and the ATH from Aug 2020, which I've marked on the chart based on price action. You can extrapolate from the price action at this point to create a few cup & handle setups with targets in these zones, and I think it makes sense to take a bit of profit at each resistance zone with the goal to reload at slightly lower levels on pullbacks. The real targets, however, are above the all time high. If you draw the uptrend resistance line from the first to the second ATH wicks, it is absolutely valid, but not parallel with the uptrend support. If instead you draw the same line from the first ATH daily close to the second ATH wick, it is unusually parallel to the uptrend support -- I will call this line the uptrend ceiling, and consider it valid. If you play with Fibonacci extensions created from the last impulse cycle, you will find a few fuzzy targets up near the $2 range, almost 10x from the current price. I have marked the confluence of these Fib zones with the uptrend ceiling as super target 1, 2, and 3. These are my primary targets for the year if a bull market in alts materializes in 2021. I have also marked targets 4 and 5 based on distant Fib extensions, but I consider these far less likely to materialize because they are above the uptrend ceiling. In the case of a bearish breakdown, I have also marked some weak anchor targets that weren't picked up in the last cycle. I would honestly be shocked if the price fell below the support levels drawn on the chart, but anything is possible in crypto and stop hunts aren't out of the question. As always, let's see what happens!
