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Optimism

OP: Falling Wedge BreakoutTrade setup : Bullish breakout from Falling Wedge pattern, which was confirmed with break above $1.50 resistance and 200-day moving average, and signals a bullish trend reversal to an Uptrend. Price could revisit $1.80 resistance next. This Layer-2 protocol has benefited from the launch of Worldcoin (WLD) and Base layer-2 network, which are based on Optimism protocol. Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Trend : Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis. Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening. Support and Resistance : Nearest Support Zone is $1.20, then $0.90. The nearest Resistance Zone is $1.50, which it broke, then $1.80
Long
by altFINS
The key is whether it can rise beyond the box range of 1.231-1.4Hello? Hello traders! If you "Follow" us, you can always get new information quickly. Please also click “Boost”. Have a good day. ------------------------------------- (OPUSDT chart) The volume profile section is formed in the range 0.919-1.129. Therefore, if the price is maintained above the 0.919-1.129 range, it is expected to continue its upward trend. (1D chart) It shows sideways movements in the range of 1.111-1.68. Accordingly, the key is which direction to deviate from this section. It is necessary to check whether the price can be maintained by rising above the 1.231-1.4 section, which is the currently formed box section, above the M-Signal indicator of the 1M chart and above the rising trend line. If it falls below 1.310, there is a possibility that it may fall to around 1.111, so you need to think about a response plan. -------------------------------------------------- - The big picture The full-fledged upward trend is expected to begin when the price rises above 29K. This is the section expected to be touched in the next bull market, 81K-95K. -------------------------------------------------- ------------------------------------------- ** All explanations are for reference only and do not guarantee profit or loss in investment. ** Trading volume is displayed as a candle body based on 10EMA. How to display (in order from darkest to darkest) More than 3 times the trading volume of 10EMA > 2.5 times > 2.0 times > 1.25 times > Trading volume below 10EMA ** Even if you know other people’s know-how, it takes a considerable amount of time to make it your own. ** This chart was created using my know-how. ---------------------------------
by readCrypto
Bitcoin Cycles: A Bullish Prelude? 📊🐂Echoes of the Past: Cycles Revisited The Bitcoin market, much like nature, operates in cycles. The most exciting part? These cycles bear a striking resemblance when examined across different timeframes. The Telltale Signs: An Identical Bottoming Pattern What's been consistent in these cycles is the pattern of the market bottoming out. It's like a signature move—Bitcoin experiences a substantial dip, testing the nerves of investors, before staging a remarkable recovery. The Imminent Question: Is a Bullish Turnaround Ahead? If history is any indication, the patterns observed in the past have often heralded a change in market sentiment. When the market tests its lows and rebounds vigorously, it frequently signifies the start of a new bullish cycle. Trading Insight: Learning from the Past Understanding Bitcoin's historical patterns is invaluable for traders. It encourages a balanced approach during market downturns, enabling them to stay resilient while poised for potential upward momentum. Conclusion: A Familiar Tune The Bitcoin market's cycles echo throughout history, offering a glimpse into the future. By recognizing these patterns and their significance, traders can harness the insights they provide, navigating the volatile cryptocurrency landscape. 📈 Market Cycles | 🔄 Historical Parallels | 🌐 Cryptocurrency Trends | 📉 Risk Management ❗See related ideas below❗ Feel free to share your thoughts in the comments!! 💚📊💚
INDEX:BTCUSDLong
by Yaroslav_Krasko
OP/USDT is Gearing Up for Remarkable Shift? Op today analysis🚀💎 Paradisers! Brace yourselves as we've spotted #OPUSDT positioning itself for a spectacular move! It's currently navigating through a descending channel, setting the stage for a potential upward breakout. 💎 A few days ago, our observations pinpointed that after testing the bearish OB, NASDAQ:OP initiated a substantial downward trajectory. After securing liquidity below, it seems to be reinstating its upward momentum. 💎 Presently, it’s maneuvering within a descending channel, and the VRVP is revealing significant volume. This is a strong indication that the price is likely on the brink of embarking on a bullish journey from this point. However, do keep in mind, a breakdown of support could trigger a downward movement. 💎 If trading is on your mind, remember to set a proper stop loss and tread with caution and wisdom! Stay informed and navigate the crypto waves with precision and insight! 🌴
Long
by MyCryptoParadise_Simon
Market Update - September 22, 2023 Bitcoin has an up-and-down week as Mt. Gox delays repayments: Bitcoin (BTC) started the week off rallying from $26.5k USD to $27.4k USD before paring its gains by Friday. Mt. Gox trustees delayed repayment of more than 140,000 BTC and other cryptos by a year, extending the deadline to October 2024. Fed holds rates steady as one more hike expected this year: In line with expectations, the US Federal Reserve held its target benchmark interest rate at 5.25%-5.5%. One more hike is expected by the end of 2023, with interest rate cuts anticipated starting next year. Judge blocks the SEC from immediately reviewing Binance.US software: The SEC faced a setback in its case against Binance.US, as a judge blocked the agency from immediately reviewing the exchange’s software. A follow-up hearing is slated for October 12. Optimism completes third community airdrop and plans private sale: Optimism (OP) airdropped ~19.4 million OP tokens (~$27 million USD) to eligible users. The team also announced a private sale of 116m OP tokens (~$162 million USD) to seven buyers. 🪂 Topic of the Week: Crypto Airdrops ➡️ Read more here
GEMINI:BTCUSD
by Gemini
Not so OPtimistic moving forward on OPUSDT. See commentsOP/USDT 1-week: OP is looking weak after the "D" rejection at the upper trendline of this large descending channel. Also notice the inability to cross the 50 level on RSI, highlighted. Fisher descending trendline in effect. A potential bounce to the 1.45-1.60 level should be treated with scrutiny, as the long term picture indicates a prolonged bottoming process that could take us all the way to 0.30-0.35. Fib extension tool confirms this view with 1:618. Crucial support at 0.62 price level and that is the pivot point from Oct '22 as well as 1:1 Fib ext. For more insight follow PIK at EXMO Study!
Short
by PIKandExmoStudy
OP/USDT Downward Momentum ??? Optimism Today AnalysisHello Paradisers, spotlight on this token! 💎 OP bounced after touching the Bullish OB zone and managed to close above the support trendline of its bearish flag. 💎There's potential for OP to rise, possibly to test the supply zone, before a subsequent decline. The anticipated downward movement might lead OP to revisit the previous wick area, which is closely aligned with a robust demand zone. This area could witness significant buying activity if OP reaches it. 💎For those considering short positions, the supply zones between 1.52 - 1.6 could be ideal, with a stop loss set above the recent high. It's worth noting that on 28th August, there's a token unlock event for OP. Historically, prices tend to rise leading up to such events, only to experience a drop on an actual day. 💎This makes it highly plausible for OP to touch the accumulation buy zone post-unlock.
by MyCryptoParadise_Nathan
OP: Channel UpTrade setup : Trading in a Channel Up pattern. Trends are improving. We wait for a breakout, ideally with confirmation when price breaks above $1.80 resistance and 200-day Moving Average (~$1.97). Benefiting from the launch of Worldcoin (WLD), which is based on Optimism protocol. Pattern : Price is trading in a Channel Up pattern. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout. Trend : Uptrend on Medium-Term basis and Downtrend on Short- and Long-Term basis. Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral). Support and Resistance : Nearest Support Zone is $1.50 (previous resistance), then $1.20. The nearest Resistance Zone is $1.80, then $2.80
Long
by altFINS
1
OP: Channel DownTrade setup : Benefiting from the launch of Worldcoin (WLD), which is based on Optimism protocol. Trends are mixed but improving as the price bounced from $0.90 and broke back above a couple of key levels ($1.20, $1.50). Overall, it’s trading in a Channel Down pattern and we’re waiting for a breakout, ideally above 200-day Moving Average (~$1.95) that would confirm a trend reversal to Uptrend, with potential upside to $2.80 thereafter. Pattern : Price is trading in a Channel Down pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout. Trend : Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis. Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $1.50 (previous resistance), then $1.20. The nearest Resistance Zone is $1.80, then $2.80
Long
by altFINS
1.828-2.045 is the support and resistance rangehello? Traders, welcome. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a good day. ------------------------------------- (OPUSDT chart) Among the coins (tokens) that are expanding the coin ecosystem introduced previously, it is the only coin (token) that is showing an upward trend. (1M chart) Very little can be learned from the 1M charts as the charts have not yet been properly created. However, you can see that the Heikin Ashi candle has turned into a bullish sign. (1W chart) It is a matter of being able to keep the price above the MS-Signal indicator. If not, you should check if the price holds above 1.442. The 1.442 point corresponds to the HA-Low indicator point, so if you bought around this area, the first selling section is around the HA-High indicator. Therefore, the HA-High indicator is currently created at the 2.498 point, so there is a possibility of a rise up to around 2.498. However, it is likely that a new HA-High indicator will be created as the real price rises. If the HA-High indicator is newly created, the area around it corresponds to the first selling zone. (1D chart) I think there are three major sections of support and resistance. 1st: 2.498-2.932 2nd: 1.828-2.045 3rd: 0.919-1.129 Currently touching the 3rd section and ascending to the 2nd section. Therefore, if you bought in the 3rd segment, the 2nd segment corresponds to the selling segment. If not, it is possible to buy when support is confirmed in the 2nd section and sell in the 3rd section. OP belongs to the category that is expanding the coin ecosystem, but corresponds to a coin (token) that has just been created. Therefore, in order to trade over the medium term, it is necessary to increase the number of coins (tokens) corresponding to profit. You need to be careful because buying at a blind and low price and waiting unconditionally for the price to rise can tire people out. -------------------------------------------------- ------------------------------------------- ** All descriptions are for reference only and do not guarantee profit or loss in investment. ** Even if you know other people's know-how, it takes a considerable period of time to make it your own. ** This is a chart created with my know-how. ---------------------------------
by readCrypto