$OP (Optimism) Bullish Dragon with SFP
Daily swing failure confirmed on the daily here, potentially marking the second bottom. So far we are bullishly engulfing, showing follow thru after the bullish Hammer yesterday.
We still have a full day before it closes, but that would be a real good look here for OP.
If the low is sustained here, this would give you the beginning stages of a bullish dragon. You would expect to see a return to the range high to confirm the double bottom, which would be your sign of strength.
Targets would be at the 618, the 1.618 extension of this last move down and the measured move of the double bottom.
We would need bitcoin to cooperate here for alts to do well off these lows, but the trades are there for sure.
We still have a full day before it closes, but that would be a real good look here for OP.
If the low is sustained here, this would give you the beginning stages of a bullish dragon. You would expect to see a return to the range high to confirm the double bottom, which would be your sign of strength.
Targets would be at the 618, the 1.618 extension of this last move down and the measured move of the double bottom.
We would need bitcoin to cooperate here for alts to do well off these lows, but the trades are there for sure.
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