It has taken more than 1 year to form that W pattern that you see. Once this thing breaks out, it will skyrocket for a long time. I smh at people with price targets of 1.5/2/3. This is crypto people. However this one has taken its sweet time to really form support/accumulation. On the flip side what is really the risk? going to 11 cents? I will take that risk anytime. I hope it dips that much it will be a steal but highly doubt it will happen. Not financial advice but that's my view on this.
I have been in OXT and holding a nice size bag since 30 cents with plans to sell at the previous all time high and buy back as I have successfully sold some tops and bought some bottoms on various time frames (mainly low time frames for quick scalping). OXT is a solid project with a viable use case being a decentralized VPN and has a good team, so I know it isnt a shit coin that is going to tank down to 11 cents - at this point we would be lucky to see the low 50s before next week (or ever). I am confident it is going to blast off next week as OXT is holding its first ever conference from March 23rd-25th so we will definitely see some price action from new investors driving the price up! I agree that targets of $1.5 seem low compared to where they can go, but the question is how long will it take to get to $2, $3 or more in your opinion? Look at other projects that have 10x'd or more over the past 6-12 months, even over the past 2-3 months and seeing OXT (and XLM to name another) take its sweet time it can be a sign of it coiling up for a huge rally! I personally felt a new local high would be about $1.2 during the upcoming conference, but that can certainly get blown through! So, the question is, what are your targets and time projections - I know $1-1.2 will definitely by hit with the hype next week, but do you think we will see 2 or 3 by then or more? I wouldnt sell until the last day of the conference...I look forward to hearing your thoughts and any one else's!
I think its funny. Our Strategy: keep holding through scary patterns being printed by the bot.
trashpanda19
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@Iaminacult, I agree, if you noticed this one is not much correlated with bitcoin price movements. Last few days btc went down from 61k to 53k and oxt moved only 5 cents.
etuckproduction
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@Iaminacult bots ether have its crashing aka tanking next year or show 2 3$ in 3-5 year range max.
etuckproduction
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@trashpanda19 it's ahead of bitcoin a bit and lately been holding up way better on down cycles.
szilardinho
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Interesting analysis - full disclosure have a solid bag. Was wondering same as previous guy if you have any price projections? I’ve heard as high as 18$ for some
trashpanda19
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@szilardinho, we will have an idea when it breaks out. But it doesn't make sense for this pattern to have been developed for the last year or so and the target to be $1.50/2. If it breaks upward and convincingly it is going to fly. Timefram? No idea. I wouldn't be surprised if it reaches $8/10