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Optimism

Optimism $OP (SHORT) Currently Overvalued Compared to Polygon Optimism, a layer 2 scalability play on Ethereum is currently trading at an $8.2B fully diluted valuation, as compared to Polygon's $9.2B valuation. While TVL (total value locked) on Optimism is soaring, it's still only $1.1B compared to Polygon's $1.7B. We're likely just seeing a rotation of money chasing DeFi opportunities in the Optimism ecosystem as there are no DeFi protocols in the Optimism ecosystem that innovate past what is already available on other L1 and L2 ecosystems. We've seen similar rotations like this before, most of which result in a large run up followed by a steep crash in token price. Lastly, only 5% of OP tokens are circulating, making the price extraordinarily sensitive and volatile, particularly to the downside as more tokens become unlocked and flood the market. Looking at two different shorting opportunities based on key margin pressure level resistance, keeping tight stop losses in case $ETH pumps on the merge narrative and the ETH ecosystem follows suit. Check out my YT channel to learn more about margin pressure levels.
Short
by SistineResearch
OP Short OpportunityMight have missed entry but it very well could come back to it. Trade looks solid but has some considerable risk. It's a bit late to start a short but figured I would share this anyway because you can enter where you want and chose what levels are right for you. This is just my idea/ I am already in the trade but expect it to pull back. . It could also shoot through my stop as well, but I gave it some room. As always do what you are comfortable with. This is not financial advice. Just a trade I am taking and try to share more ideas. Keep an eye on BTC because it will have an effect of this. Sorry this is rushed as I am walking out the door so everything on the chart is not exactly as I usually have it. Trade is live but you might want to wait for entry.
Short
by Z3R0-G3N3S1S
4
OP.Usdt (Y22.P3.E).The trade so far..where is the bottomHi All, I do believe this bear market is not like any other because the current world climate is not like no other, high inflation and interest rates to still come so we will see more down turn on the stocks and crypto is no exception. Having said that, This could be wave 3 to 4 looking for completion. Why wave 3 to 4? Wave 3 to 4 is usually complex, even in a uptrend or downtrend market. We also might have a trading opportunity if it comes using the RSI however in a bear market, targets don't usually hit like in a bull market. Unless its a reversal. The breakout trade can only be a relief rally in my opinion, just like for the others. All the best, S.SAri
by ssari
Why Bitcoin bulls remain optimistic about higher pricesBitcoin (BTC) price has undergone a rejection against a significant short-term barrier but if it can break above a 25% rally could get underway. 10% is up for grabs if bulls can swing from one resistance to another. An endpoint for the run-up is likely to be the 55-day Simple Moving Average (SMA), with bulls potentially booking 25% of solid gains in the process. Bitcoin price sees bulls hurt a bit by a firm rejection from the $21,969 level, the low of June 13, and a key short-term level on the chart. Although price action took a little step back since then, the Relative Strength Index shows bullish signs as it trades back above the oversold area and looks like it is tilting higher. With more bullish pressure mounting, supported by tailwinds from global markets that have entered a sort of a soft patch, Bitcoin could get set to return above $27,000.
BITSTAMP:BTCUSD
by Roberto411
Optimism perhaps the most significant innovation of 2022?Fundamentals: + OP/ Optimism native token + By far the most significant innovation of 2022 + 2nd largest ETH L2 + Decentralized Airdrop Opinion: Optimism has an incredible future. The technology is safe and sound. One of the fastest L2's. Key partners, cross interoperability. Recently filled the DEX gap to 0.85$. Very bullish on this one, not afraid to be patient on it! Notes on how I personally use my charts/NFA: Each level L1-L3 and TP1-TP3 has a deployment percentage. The idea is to flag these levels so I can buy 11% at L1 , 28% at L2 and if L3 deploy 61% of assigned dry powder. The same in reverse goes for TP. TP1: 61%, TP2:28% and TP3:11%. If chart pivots between TP's, in-between or in Between Sell levels these percentages are still respected. I like to use the trading range to accumulate by using this tactic. Just my personal way of using this. This is not intended or made to constitute any financial advice. This is not intended or made to constitute any financial advice. FED Macro Situation Consideration: All TP's are drawn within the context of a return to FED neutral policy. I do not expect these levels to be reached before tightening is over. NOT INVESTMENT ADVICE I am not a financial advisor. The Content in this TradingView Idea is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained within this idea constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. All Content on this idea post is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the idea/post constitutes professional and/or financial advice, nor does any information on the idea/post constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other Content on the idea/post before making any decisions based on such information.
by TheBitcoinGeneration
2