做空
Bearish Price Action Continuation
Technically, a falling wedge should be a bullish pattern, but with OXT every pattern is a Bearish pattern. OXT has been in a downtrend for close to 6 years and it continues to form lower highs and lower lows. OXT broke below its all time low. Price has broken and closed below the support line of the falling wedge. Price has been struggling to get back into the falling wedge which could mean that the bottom is not in for OXT and there is more downside price action awaiting for this failed project. Failed VPN, Failed GenAi. OXT started with good ideas, but all of them have failed. OKX delisting did not help this project in the middle of a bull market. Let me be clear, the crypto market is in a bull market, but OXT is in a bear market. Suspension of X account added to Orchid’s misery. The launch of GenAi has only tried to keep Orchid relevant in the crypto space, but it has utterly failed in keeping Orchid relevant in a competitive environment. The price chart reflects the failure of the team and when the chart is studied properly, it becomes evident that this failed token is used for many pumps and dump scams as well, which may be a reason to delist OXT in many major crypto exchanges in a near future.
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