OXT Price Breakout - Parabolic Move Initiated
/OXT Wakes Up from Deep Sleep With Aggressive Breakout
After buying into OXT prematurely at $0.43, I am definitely one to be happy about seeing this breakout parabolic move in the midst of a market-wide bullish romp. Let’s take a look at the 4-hour chart and break down the action…
It looks like Christmas is coming early for OXT bag holders as the price has made a definitive parabolic breakout move after eclipsing the secondary support/resistance line at $0.26. Make no mistake about it, that resistance has now been crushed.
Judging from the positioning of the stochastic, which is currently just under the 80% overbought zone and headed in an upward trajectory, it looks like anything is possible as far as how high this breakout will run. After completing what appears to be a pennant formation with stochastic dips returning prices well above the Point of Control price, this looks like a classic technical breakout after a long consolidation period.
The On-Balance Volume shows strong institutional buying taking place with a major spike in the trend line. If this is actually happening on the exchanges, look for a run that has the capability of eclipsing the “preview” we got this fall.
Carlton Flowers
The Crypto Pro
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