OXTUSD trade ideas
OXTUSD Potential MoveGood evening/morning traders and OXT fans,
OXTUSD is forming an interesting pattern and might give us some profits. Please see the following key points on the 4 hourly chart:
1. Forming classic RSI and MACD bullish divergence for the 1st and 2nd low.
2. The 3rd low is a higher low: proving that the bullish divergence could be real for a trend reversal.
The potential pattern could be an inverse head and shoulder (not perfect because the right shoulder is lower than the left one, but the trend should be similar) if the price hits the neck line.
The neck line is a strong resistance so remember to take profit first. If the neck line is broken and the price holds, the 100% measured move of the target is at 0.2042 USD, aligned with a long-term strong resistance.
This trade is very speculative in my humble opinion. Do your research and make your own decision.
HakoneDream
A View of OXTIn a previous chart, I had mentioned that OXT may move to the downside possibly to the .1600 level. With the exception of the slight breakout of the bearish trend line, price still shows respect for it. A fairly new coin, it has for the moment found it's bottom. Meanwhile, as it has been in accumulation with several bursts to the upside. It has now pretty much over extended itself during its upward push and now needs to come to rest for another accumulation period, IMHO.
Time for trianglesoxt has had some crazy spreads. Remember to ignore wicks when needed, as low maker volume will cause price jumps.
OXT is forming a clear triangle, and has been ahead of the market by roughly a day and a half. There is a good chance it may be stalled to see if eth will continue it's climb.
Small accum begins around 0.1975. Larger accum if it falls below 0.1950
Whale manipulation The only OXT traders are whales.The volume looks fake. I'd stay far away. There is a lot of odd behavior going on. The price will stagnate for days and every pump is just sold off. The only thing keep it up is 1-2 whales. If BTC did poorly, I wouldn't be surprised if we saw .10-.12 again. I'm not sure how OXT has manage to slowly go up while also looking like it's being sold off. Are whale's accumulating or is no one trading this coin?
Remember that in Q2 of 2018, 85 million tokens were bought for $.50 each.