#OP/USDT#OP
The price is moving in a descending channel on the 4-hour frame and it was broken upwards
We have a trend to stabilize above the moving average 100
We have an upward trend on the RSI indicator that supports the rise by breaking it upwards
We have a major support area in green at a price of 1.10
Entry price 1.30
First target 1.50
Second target 1.65
Third target 1.83
Opusdtshort
OPUSDT Elliott Waves AnalysisHello friends.
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Everything on the chart.
Entry: market and higher
Target/ Reversal zone: 0.8 - 0.6
after first target reached move ur stop to breakeven
Stop: (depending of ur risk). ALWAYS follow ur RM .
Good luck everyone!
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It's not financial advice.
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Open to any questions and suggestions
Op/usdt Trading idea Opusdt
Formed rising wedge pattern on daily timeframe and also facing horizontal resistance
Iam expecting price to drop from here atleast 15-30% ,let's see
Note : This is just an idea , do your your own research before taking any decision
Better is to wait for confirmation | Next red candles|
Good luck
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OPUSDT UpdateBINANCE:OPUSDT current situation is as follows:
OP is currently in a neutral position. In my previous post, I correctly predicted a 40% growth and a 20% price drop for this currency. However, the price is now caught between strong support and resistance, and I don't want to take any trades in between.
But where and when should we enter a short or long position?
I'm waiting for one of these two scenarios to occur. Either the resistance line breaks with strength and the daily candle closes above the resistance level with a significant gap, and then I wait for a retest, or the same conditions occur for the support line.
Apart from these two scenarios, I have no intention of entering a position because I don't want to get stuck in this range, and I want to catch the larger waves.
⚠️ "Daily crypto market analyses I provide are personal opinions & not financial advice. Trading carries risks, so do your own research & seek advisor's help."
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OP ready to fly!After quite some downtrend and getting stuck in a triangle I expect the triangle to break downward which will most probably be a false breakout since it's an area of liquidity and start flying from the area that I highlighted which happens to be the entry price for the breakout signal!
NFA
OP-almost optimistic The weekly timeframe looks bullish to the red zone.
vanguard weekly movement prnt.sc
On the hour, you see a wedge. It's a reversal pattern and it is not working out yet.
We are in the sideways movement 1.90 = 1.70.
Locally, the minimum is interesting in the breakdown and hitting of liquidity under the break price 1.76
The first scenario on the chart.
The second one looks like this
The third variant
Well, Godspeed.
OPUSDT.POKX:OPUSDT.P
BINANCE:OPUSDTPERP
OPUSDT Short Position
Pattern: Triangle in bearish trend
Entry, TP and SL: determined in the chart
The possible time of breaking the triangle: Designated with yellow vertical lines
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This pattern is not complete yet. its better to enter the position after the triangle is broken.
Fleeting Optimism Long term I am bullish on Bitcoin and Cryptocurrency.
Short term, I think we are likely to see a rapid sell off to around $16.6k.
When setting this trade up, I considered a way to lower the risk and increase the return. Rather than using leverage directly on Bitcoin , an asset with solid fundamentals and the safe haven in a cryptocurrency rout. I have taken shorts on two other cryptocurrencies, that I have priced as over valued.
1) I believe Ethereum Classic (ETC) is currently overvalued, due to a recent rally spurred by Ethereum's (ETH) 2.0 network upgrade. ETC has been pumped with the sales pitch >> ETH miners will move to ETC, dragging over a significant portion of the ETH user base over. This is not likely in my opinion and therefore the rally is not supported with fundamentals. I foresee a sell off to the $18-20 range, a range in which I will close out my position. Current trade entry of $41.60.
2) The second short is Optimism (OP), a relatively new cryptocurrency that has been pumped from $0.50 to $2.30. Even considering it's retreat from $2.30 to $1.15, I see a further pullback to $0.80 likely, maybe $0.60 will see. Entry of position at $1.46.
Best of look out there.
RISK: Crypto might rally with the upcoming upgrades of both ETH and ADA.
Op/USDT In Falling Wedge and Range [not so OP right now] Opusdt is in a Falling Wedge and in a range
Opusdt broke the support now we can see resistance from the previous support and support from the previous resistance and all these in a range inside of the Falling Wedge Pattern
After breakout we can see significant movement in opusdt
If we breakout upside than we have Falling Wedge Pattern confirmation but
If we breakout downside than we have Head&Shoulder Pattern Confirmation
P.S.THIS IS NOT A FINANCIAL ADVICE
OP ready for correctionAfter some strong bullish moves now we have reached a strong resistance in multiple timeframes(Weekly, daily and 4H) as well as a measured move target for bulls to take profits and I expect at least TBTL (10 bars 2 legs) down from here. entry based on two major double tops as well as nested ones in shorter timeframes plus lower high major trend reversal setup!
NFA
OPUSDT: Deep decline could start right nowPreviously I have published an idea for OPUSDT.
Now, I made adjustments to the current wave count.
The price successfully overcame the uptrend line, forming an impulse in the assumed wave 1.
At the moment, wave 2 is being formed, in which the most highly effective trades are opened (according to trading rules by Elliott Waves).
I opened a short position and plan to increase the volume of the position at breakdown of the price minimum of wave 1.
The target level for taking profit now at $0.1.
The risk-to-profit ratio reaches 1:8.
Best Regards,
CEO Tornado Capital
OPUSDT: Deep Price PlungeAn ABC upward correction pattern has been formed, for a downward wave A.
At the moment the price broke through the uptrend line and it is likely that the formation of the intermediate wave 1 will be completed soon.
I will sell the coin on the correction in wave 2, from where I will expect a deep price decline to the level of $0.1.
Overall, short pos has risk-to-profit characteristics of 1:5 at least.
Best Regards,
CEO Tornado Capital