OXTUSD trade ideas
OXT Utility and Development OXT also known as Orchid built on the Ethereum Blockchain is the first crypto that I’ve seen that has a real life use that is available to be used by VPN users to maintain privacy between server administrators and end users. This prevents user’s browsing and other internet activity from being under risk of subpoenas.
I downloaded Orchid from the App Store yesterday and have been extremely impressed with the app design and the user experience through their user interface.
So, not only is there utility to the coin through the VPN implementation, but this effort proves that OXT is not merely a pump and dump coin, no, they clearly have a development team who is swinging for the fences with big metal bats (capital).
Revenue generated from the success of their app just increases the size of the proverbial bat. Lastly, Binance does not yet list this coin so there will be a huge buying wave when (not if) it is listed on binance.com and binance.us
LONG OXTI feel like I have seen this before! We may get another leg up...Do we bump our heads at 75 cents and drop a bit? Im not sure. Skys are clear above 75 cents...and price discovery would be an interesting ride!
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OXT longOXT pumped today but this chart is telling me there may be more ahead
The Content is for informational and entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. This is not financial advice nor am I a financial adviser. :)
Bull flag confirmation - time to go higherWe were able to break the previous resistance of $0.2850 and took down those high sell walls. This is a 2 hour chart show confirmation and upward momentum from the bull flag. Let's see how much higher we go.
Bullish Divergence It looks like accumulation is over and has broken the top part of the wedge. Looking at the MACD trend showing a bullish divergence. Small marketcap coin and rumors of Binance listing could move this up quickly.
Orchid (OXT) vs USDNot all alt-coins have enjoyed a massive run since the market crash back in March. There are more than a few whose charts suggest the best weeks are ahead.
The above 2-day chart for this project tells us previous resistance has now become support. Furthermore we have just closed a candle above the 21-day moving average. Stochastic RSI is rising rapidly with RSI making higher lows in combination with increased volume. The trend is your friend and the trend is up.
On the chart below we can see a Weekly candle just closed on the 21-week moving average = bullish
1-day Bitcoin chart -
History is poor with BTC pairs, however, no matter the exchange there is evidence of bullish divergence with volume. Golden.
OXT the next big breakoutIts not Defi its private browsing...
OXT is showing strong technicals favoring the bulls.
We are breaking out of a multi month symmetrical triangle. A short stop at the 200 Daily and a Bounce off the tri and we are headed to $0.30 and likely beyond.
Dump and pump - Don't fall for itWe will retest high. Just guessing here, but this doesn't feel right. Who dumps 2M OXT in an hour? That's not how this works.
Bull trend guessThis is assuming we don't pass $.22 and hit $.25 today. Usually these runs have some type of pull back zone. Depends how crazy they are.
We broke the symmetrical triangle patternWe are in uncharted territory now. Good luck to you all. If it closes above the resistance line, then I'm extra bullish
