OPUSDT trade ideas
OPUSDTOPUSDT was trading under the declining trendline. The price was reacting well the support and resistance of trendline
Currently the price has given the breakout from declining trendline with confluence to strong bullish divergence and now seems like the bulls are getting ready for some strong upside movement.
If the bulls sustain to upside the optimum target could be 4
What you guys think of this idea?
OP Short PositionOP Short Position
. Rejection From RESISTANCE ZONE 2.8
. Bearish Market Ahead : 30 April ... FOMC Meeting & Binance founder faces possible three-year jail term
Stop Loss : 2.81(9.6%)
Entry : 2.565
TP: 1.8 ( 33%)
OPUSD 1WOP ~ 1W 📈
#OP We will start making purchases gradually when retesting this support line. This is our first purchase. with a minimum target of 20%+
OPTIMISM 42724I gave a setup on OP against BTC earlier this am as I entered the trade. Jumped up but in reality, this could be just the beginning of a monster rally to 10 dollars. OP has held the ascending triangle as support and looks to be rallying. ANd why not? Ether prices are as broken as Bitcoin. I see a layer 2 and optimism has always been a monster mover.
I think this could be a safe trade with limited downside.NFA. I change my opinions as new data presents itself. I could just as easily take my profits and rotate out. It could also all go to zero, but I see way too much fear and I think many will chase ether gains but not want Ether.
BLackrock wants your OP and TAO
OP(Optimism) price action analysisSimilar scenario that the market has experienced
Example 1
💰DOT (spring-summer 2021)
Accumulation ➡️ Distribution ➡️ 67% dump ➡️ 360% pump
💰OP (spring-summer 2024)
Accumulation ➡️Distribution ➡️64% dump ➡️ projecting DOT scenario to OP
Here we saw 3 waves of decline and the last one was the most painful and fearful for the crowd. After that we had great pump
This scenario can be applied to many altcoins, not just OP.
#op Optimism has bounced from a support area👀 The key levels #op
Optimism has bounced from a support area👀
The key levels to watch are the descending resistance and the MA 200🔍
A solid breakout could lead to a bullish wave with a 100% upside potential✈️
OPUSDT 1D#OP has bounced from the support zone. The structure looks bullish. Let's see how it will play with dynamic resistance and daily MA200. In case of a solid breakout, we expect a 100% bullish wave. Targets are:
$2.833
$3.219
$3.657
$4.095
$4.719
$5.514
OP 21/04/2024OP is increased by 38% from the lowest daily imbalance. I have a diagonal below that can work as a support. We are currently above the weekly levels and price is targeting to fill the imbalances below. Every correction is a buying opportunity for me. If we drop to 2.20. It is good level to buy.
OPUSDT.1DThe daily chart for Optimism (OP/USDT) illustrates a bearish trend with a series of lower highs and lower lows, which can be interpreted as a downtrend channel. The price is currently hovering near $2.467, with a clear support level at $1.635. The resistance level at $4.139 is crucial; a breakout above this level could signal a potential trend reversal. However, the current price action remains below this resistance, suggesting that the bearish sentiment is still dominant.
Traders might look for short positions as long as the price is below the resistance level, with potential targets near the support level. A break above the resistance could invalidate the bearish outlook and shift the strategy towards looking for buying opportunities. Risk management is key, and stop losses should be considered above the resistance level when taking short positions to protect against sudden bullish reversals.
OPTIMISMwe run it back this week imo
probably around thursday
all alts eth and btc for strong relief rally
then btc moves heavily due to the halving catalyst
followed by eth
then everything else
select alts will stay bullish
this is one of them imo
jeffans: OPUSDT is going to +14% then 60+%OPUSDT is going to +14% (before trendline) then -- 60+% according to Demark's projector.
The key is whether it can receive support around 2.289 and rise
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(OPUSDT 1M chart)
This month's decline shows that the HA-High indicator is about to be created at the 2.759 point.
Accordingly, the key is whether the HA-High indicator can be supported and rise near it when it is created.
It is showing a rebound after touching the Fibonacci ratio point of 0.5 (1.828).
Therefore, we need to see if it can find support around 0.618 (2.045) and rise above 2.289.
(1W chart)
It touched the psychological volume profile section and rebounded, but failed to receive support around 2.289 and showed a downward trend.
Accordingly, the key is whether it can rise above 2.289.
Currently, the HA-High indicator is formed at 3.777, so it is expected that in order to switch to an upward trend, it must rise above the HA-High indicator.
(1D chart)
The upward trend began on November 3, 2023, when the HA-Low indicator broke above the upper box section.
And, on April 7, 2024, we encountered the HA-Low indicator for the first time.
It is showing a stepwise decline as it fails to receive support near the HA-Low indicator and falls.
Since the volume profile section of the 1M chart is formed around 2.289, the key is whether the price can be maintained by rising above 2.289.
The time to buy is when it shows support near the HA-Low indicator and rises above the MS-Signal indicator.
Aggressive buying is possible when support is seen around 2.289.
In order to continue the upward trend, the HA-High indicator must rise or higher.
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After the HA-Low indicator is newly created, the trend changes depending on whether it receives support or resistance.
I think that there is nothing special about the decline in the HA-Low indicator because the fact that the HA-Low indicator was newly created means that the downward trend has already begun.
However, the creation of the HA-Low indicator means that a low point has been formed.
Therefore, even if the HA-Low indicator falls, it can be said to be a meaningful movement because it is highly likely to show movement to form a bottom section.
Therefore, you can proceed with a split purchase whenever you encounter the HA-Low indicator.
Have a good time.
thank you
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- 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.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (when overshooting)
4th: 13401.28
151166.97-157451.83 (when overshooting)
5th: 178910.15
These are points that are likely to encounter resistance in the future.
We need to see if we can break through these points upward.
Since it is thought that a new trend can be created in the overshooting zone, you should check the movement when this zone is touched.
#BTCUSD 1M
If the general upward trend continues until 2025, it is expected to rise to around 57014.33 and then create a pull back pattern.
1st: 43833.05
2nd: 32992.55
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OP/USDT A break the resistance, will indicating back to bullish.💎 Paradisers, it's intriguing to see the recent market dynamics of #OP. With the bounce from the demand area and now testing the resistance, the next moves are critical.
💎 If #OP manages to break above the resistance, it could signal a bullish reversal, paving the way for further upward movement, and potentially testing the strong resistance area.
💎 However, if #OP faces rejection at the resistance, it may retreat to test the demand area for renewed momentum.
💎 Bouncing from the demand area is crucial for sustaining bullish momentum. Failure to do so, resulting in a breakdown, could signify bearish sentiment, leading to further downward movement.
MyCryptoParadise
iFeel the success🌴
OP potential move in coming weeksOP / USDT
Price came directly to major support
Must hold above weekly support to remain bullish
monitoring price action here for a potential buy setup in coming days or weeks like (double bottom / trend breakout ..etc )
Best of wishes
OP USDTit looks bearish, It went up 5 waves and then we see that theres a bearish DV between Y and Z after this started to correct and I think it will be five waves, if we break the last x LH at level 0.618 Fib 2.6$ We're going to visit $1.9.
OP will be very OPBut before that, we need to see how MM will reset things before sun rise.
Now the dark even not coming yet
Not Optimistic on OP token. What does it even do?Get this: You cannot even use OP tokens as transaction fees on the OP chains. All Level 2 tokens are useless. Only ETH matters.
At the end of the month, millions of OP tokens get released and dumped on the markets. See the supply schedule.
The OP Foundation sold billions of tokens to investors at sub $1 prices.
Have fun holding OP and becoming a "Community Member" by particiapating in governance voting.
OP - Ranges overview Interesting run of the lows on OP.
Just like the rest of the crypto market the overall reaction around the HTF OB and the sellside will depend on BTC holding its 60K-62K lows.
IF we fail to hold the current levels we will likely continue towards 1.7050$ and create lower lows.
IF we hold these levels we will revisit the buyside liquidity.
Stay safe and never risk more than 1-5% of your capital per trade. The following analysis is merely a price action based analysis and does not constitute financial advice in any form.
