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OPUSD trade ideas

BEST ENTRY IN A LONG TIME!Keeping this VERY SIMPLE. #Optimism is currently trading close to all time lows! after sweeping a few high timeframe weekly lows, and holding above the level, in my opinion, this can be a great entry for higher prices to come. Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade. Every day the charts provide new information. You have to adjust or get REKT. Love it or hate it, hit that thumbs up and share your thoughts below! This is not financial advice. This is for educational purposes only.
COINBASE:OPUSDLong
by Navitility
OP - Massive Buy SignalHere we have an amazing development on the 2W chart for OP. Most people do not watch the 2 week chart which is why this will probably fly under the radar for most, but here we are providing you with the most up-to-date content. We have a dragonfly doji forming on the 2W after a 112 day downtrend (>3 months) and after a capitulatory event. This absolutely looks like a bottom and with ETF approval on the horizon we could see some explosive price action. Looks like a great time to accumulate. Also some key take aways on lower timeframe RSIs. The weekly bounced off a 33 (very close to oversold conditions at a 30). The 3D RSI did bounce from oversold conditions at a 27 which is the exact same level it bounced from on June 12, 2023 before OP went from $1.08 to $4.80.
COINBASE:OPUSD
by VIAQUANT
1
Optimism (OPUSD) Trading StrategyEntry Point: Optimal Entry: Aim to enter around $2.88 to $2.90. This is close to the current market price and above the pivot point, suggesting that the bullish momentum has support. Aggressive Entry: If you're looking for an earlier entry and can tolerate more risk, consider entering at any slight pullback near the $2.80 level, which aligns with the pivot point providing additional support. Take Profit Points: First Target (T1): Set the first take profit level at $3.55, which aligns with the first resistance (R1). This level is a significant jump and likely to encounter some resistance. Second Target (T2): If the momentum continues, aim for the second resistance level at $4.56 (R2). This target is more ambitious and depends on continued market bullishness. Stop Loss: Stop Loss Level: Set a stop loss at $2.50. This is below the pivot point and a recent low, providing a buffer against normal fluctuations while protecting against significant downturns.
CRYPTO:OPUSDLong
by AxiomEx
OPTIMISM Possible wave 3 for new ATHOPT looks very good in TA. Looks like its still very early for optimism and as ETH upgrades its going to depend on the Optimism technology as ZK is far to being complete and useful for ETH. OPT should start gaining more bullish momentum once ETHEREUM starts getting more bullish than BTC and starts trending. The next leg up will be driven by the layer 2 race and so far "Optimism" is the most likely to be used for now so I am expecting good things from OPT in the long term.
COINBASE:OPUSDLong
by CryptoGao1
Optimism - Ethereum Rollups Solution breaks ascending triangle Optimism- CRYPTOCAP:OP This is a potential long term asymmetrical trade with 640% potential and a -20% loss potential. ⌛️ Potential Ascending Triangle Breakout ✅ OBV Volume breakout and retest ✅ An increasing volume profile (peaks and valleys) ✅ DSS Bressert Cross The entry and stop loss is noted on the chart. The 4.236 fib ext level aligns with the ascending triangle target (purple arrow). This would be the most optimistic scenario and prior to reaching this we would have taken profits along the way. I think there is a possibility of a retest lower as set out with the fractal candles, the recent low of $2.63 needs to hold in my view hence why this is also my stop. If re captured we could re enter the trade so no great loss either way. I have an open small allocation and will add in the event of pull back What Is Optimism (OP)? Optimism (OP) is a layer-two blockchain on top of Ethereum. Optimism benefits from the security of the Ethereum mainnet and helps scale the Ethereum ecosystem by using optimistic rollups. That means transactions are trustlessly recorded on Optimism but ultimately secured on Ethereum (think lightening network but for Ethereum). Happy trading PUKA
COINBASE:OPUSDLong
by PukaCharts
OP-Ready for Higher🌟 Bitcoin's Breakout Surge: Professor's Big Charts Revealed 🌟 📈 Live Analysis Incoming! Prepare for an in-depth journey through Bitcoin's latest surge as we go live on TradingView. Get ready for a session packed with insights and the unveiling of the Professor's big chart. Join us: Live Stream: www.tradingview.com 🚀 The Breakout Chart Breakdown Witness the bullish momentum as Bitcoin smashes past the $47,650 barrier. With my analysis, we're looking at a bull run targeting $59.9K, 69K , and the ambitious $79K. 🎯 Stay bullish and watch as the charts unfold the story live! 💹 Historic Patterns: A Roadmap to $79K Reflect on the last breakout at $31,100 and its staggering rise to $46,000. Our charts have been the compass leading us to these profitable winds. Don't miss out as we dissect the potential climb to $79K, live! 🔍 Last Year's Chart: The Trendline Triumph Cast your minds back to January 2023, when Bitcoin was a humble $18,000. Fast forward, and we're witnessing a breakout reminiscent of December 2020's rally from $7,500 to $24,000. Could we be on the cusp of reaching new all-time highs? Let's explore together. ⏱️ Halving Cycles: This Time It's Different Every cycle writes its own story, and this one's no exception. We're approaching the halving with a market more aware and ready to advance. Tune in as we analyze why we might see an all-time high sooner than the previous cycles. 🌐 Join the Live Stream for the Full Picture There's much more to cover, from halving cycles to breakout patterns. Ensure you're part of the live session for a comprehensive analysis that could redefine your trading strategy. Catch the full live session and secure your front-row seat to Bitcoin's exciting journey: Join the Live Stream: www.tradingview.com One Love, The FXPROFESSOR 💙
BINANCE:OPUSDLong
by FX_Professor
Optimism/USD Inverse Head and Shoulders: A Path to Profit?A potential inverse head and shoulders pattern may play out on the OP/USD trading pair, here's a general outline of how one might approach trading this pattern: // Possible Entry Point: A common entry point for an inverse head and shoulders pattern is a break and close above the neckline following the right shoulder. Traders may wait for a confirmed breakout on increased volume to enter a long position. // Possible Exit Point (Take Profit): The target for an inverse head and shoulders pattern is often calculated by measuring the distance from the head to the neckline and extending that distance above the neckline from the breakout point. // Invalidation Criteria: The pattern becomes invalid if the price falls back below the neckline after the breakout. Another invalidation point can be if the price drops below the right shoulder, as it suggests that the pattern is failing and the downtrend may continue. //Risk Management: As always, it's crucial to practice proper risk management, setting a stop-loss below the right shoulder or another technical level to mitigate potential losses if the pattern does not play out as expected.
COINBASE:OPUSDLong
by learningedge
OP → Optimism 200% Bull Run! About to Reverse? Let's Answer.Optimism had a 200% bull run from November 9th to December 27th. With three legs up, and multiple failed attempts to break $4.20, are we due for a reversal to the downside? How do we trade this? 🤔 Short answer, no. We don't have enough data to enter a short because we're lacking confirmation. Three pushes in a trend is an indicator that we need to start looking for signs of a trend change, the failed attempts to break $4.20 is another great reversal example, the RSI falling around 61.00 and below the moving average is the cherry on top. However, we're still above the 30EMA going sideways and there are no laws saying we can't have a 4th leg up. We likely need to go sideways for a while and retest $4.20. It's almost important to watch Bitcoin as a market indicator and see how it responds to the recent sell-off from the measured move top. Bitcoin could make a run to $50,000 which surely could take Optimism with it for a 4th leg. If Bitcoin falls and starts its pullback, we should have a shot to short scalp OP. For now, wait on the sidelines for the price action to deliver the required behavior. Until then, you'll be much wealthier waiting on the sidelines! 💡 Trade Idea 💡 Short Entry: $3.60 🟥 Stop Loss: $4.34 ✅ Take Profit: $2.50 ⚖️ Risk/Reward Ratio: 1:1.5 🔑 Key Takeaways 🔑 1. Three Pushes up in a Bull Channel. 2. Potential Double Top at Resistance Zone 3. Gap to 30EMA and Support Zone 4. Enter 1:1.5 Short Scalp with Confirmation 5. RSI at 61.00 and below Moving Average. Bias to Short. 💰 Trading Tip 💰 The RSI on its own is a weak datapoint to make a trade decision. But when used as a supplement to key price action analysis, can be a fantastic orientation check on the state of the market. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
COINBASE:OPUSDShort
by TraderEngineering