Orion Protocol (ORN) - Oversold

On the above 2-day chart price action has corrected a massive 95% since the sell signal back in March 2021. A number of reasons now exist to be bullish, including:

1) The buy signal has recently printed.

2) Price action is on support.

3) RSI resistance breakout + support

4) The ORN / BTC pair prints a ‘incredible buy’ on the 2-day (below).

5) Nudge nudge wink wink. Don’t know what I mean? Shame.

Is it possible price action falls further? Sure.

Is it probable? No.

Good luck!

Ww

Type: trade
Risk: <=6% of portfolio
Timeframe: 2 - 6 months
Return: The 1st target is $4.20, after that $6 and then $29


2-day BTC pair

Zlecenie aktywne

Zlecenie aktywne

Komentarz:

This is fantastic reversal pattern emerging here (better seen on 4-day at bottom), on the 2-day dollar pair buyers had to push all the way to $2.15 before sellers stepped in. What does this tell you? Sellers are exhausted. Now watch what happens when demand return and sellers are no where to be seen in the weeks ahead, this is a powerful set up.


2-day

4-day

Komentarz:

PS: Had meant to show on the 2-day the purple circles where this seller exhaustion occurred previous, beautiful isn't it not?

Komentarz:

Lots of volume coming into this one throughout today (I don't know why, someone knows something I don't).

The people who can't afford to capitulate are doing exactly that, have already had messages from folks throughout the day 'I'm out', 'Can't take it anymore, sold it all' for various tokens. People, this is max pain. Just switch off the machine for a week, don't react to it.

The weekly chart below. Remember this one is on the 'what if' list.

Zlecenie aktywne:

Strong bullish divergence printing on the 2-day with volume. If price action breaks out of this bull flag, look for a target in the $40-45 dollar area.

Zlecenie aktywne

Komentarz:

Was just made aware of this by another, usually I don't keep up with project info. However I think this is worth a mention.. especially with the recent debacle of Celsius Network and Voyager.

"OKX integrates with Orion DEV perspective. Orion Protocol recently became the first to decentralize OKX’s order books. Users now have decentralized access to OKX’s order books using their own wallets."

source: smartliquidity.info/...ates-with-orion-dev/

Together with the WOO network, DYDX protocol, and now ORN - accessing order books on centralised exchanges will help many sleep better at night. This is the way forward.

Komentarz:

"What if" list status alarm triggers. Will add to the list next week. Someone please remind me if I forget.

Zlecenie aktywne

Komentarz:

on support

Komentarz:

Forgot to add the chart above...

On the 1-day chart / BTC pair price action has broken out from a 500 day strong resistance. <10 alt-tokens listed on Binance / Coinbase hold this status. (CLV idea hint hint).

Zlecenie aktywne:

Do you see?

Multiple bullish divergencies on the 3-day on resistance breakout

Zlecenie aktywne:

A good moment. Strong buy signal + higher divergence.. look left