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OPUSDT trade ideas

🔥 OP Weekly Support Held: New Highs On The HorizonOP saw an incredible start of 2023. Sadly, after a huge move early in the year, OP has been selling off for most of the months after the initial pump. However, I see signs that the sell-off is done and that there's more bullishness coming soon, arguably even a new all-time high. For the best risk-reward I'm looking at a target of 5.00, potentially 3.00 if you're more risk averse. Stop at 0.99, which is just below the 1.00 support area.
Long
by FieryTrading
2
OP/USDT Breakdown + Failed Re-TestHey traders 👋 OP/USDT had a nice movement recently so let's take a look at that! We see that price had recently a small breakdown after what we had a failed re-test meaning the volume from buyers was weak. We are going to look for a potential short position here !! If you like ideas provided by our team you can show us your support by liking and commenting. Yours Sincerely, Swallow Team Disclamer: We are not financial advisors. The content that we share on this website are for educational purposes and are our own personal opinions.
Short
by SwallowPremium
17
OP short - day trade OP has gone according to the plan so far BECAUSE BTC has given us the signals we expected. So far all is good for shorts. Personally entered 3 different positions (avg position entry sitting at 1.35$. Taken some off for now and stops at be (breakeven). Expect a push up towards the yellow box. As long as BTC continues to fail to create new highs the crypto market will keep on going lower. Bear in mind BTC still has some liquidity sitting around the 32K-33K (cf BTC ranges overview). Overall plan remains the same for now. TP 1.1550$ TP 0.8865$ (for a swing trade if we break and hold below 1.15$ Stay safe and never risk more than 1-5% of your capital per trade. The analysis is merely a price action based analysis and does not constitute financial advice in any form.
Short
by Patrick2707
Need to see support near 1.343 for short-term trend reversalHello? Traders, welcome. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a good day. ------------------------------------- (OPUSDT chart) Looking at the 1M chart, It can be seen that the 1.129 point is an important volume profile section. Looking at the 1W chart, We touched the 0.919 point, which is the volume profile section. Therefore, it is important to keep the price in the 0.919-1.129 zone or higher. I have touched all the important support and resistance sections that I have been talking about before. It touched the 0.919-1.129 section, which is the current 3rd section, and rose. In addition, since the HA-Low and HA-High indicators on the 1D chart were created below 1.343, if the price is maintained above 1.343, it is expected to rise to the 2nd interval around 1.828-2.045. Since the HA-Low indicator of the 1W chart has not yet been created, it is recommended to use the HA-Low and HA-High indicators of the 1D chart to increase the number of coins (tokens) corresponding to the profit. -------------------------------------------------- ------------------------------------------- ** 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
1
OP - Ranges overviewOP is continuing its downfall since our last OP trade call. Similarly to BTC and the alt coins OP has retested the highs of its range and currently on the elevator down. Highs sitting around 1.41$ have been deviated to perfection (as witnessed with the red line and the black order block). All longs are trapped and currently holding on to losing positions. Expecting a retest of 1.1550$ for now --> coinciding mid range Personally on the sideline and in no trade. ------ STUDY THE BTC RANGES AND THEIR PA FOR DIRECTIONAL BIAS ------ Stay safe and never risk more than 1-5% of your capital per trade. The analysis is merely a price action based analysis and does not constitute financial advice in any form.
by Patrick2707
OP next possible move.After a pump, we might see some pullback on higher timeframes, of course it is not guaranteed. short term bias is Short, since we haven't seen any major liquidity grab, and there is still a gap in lower area as seen on the chart, there is also a bearish divergence as a secondary factor. Still DYOR, and TYOR ^-^! just giving you a possible next scenario in my perspective. Happy trading everyone, hope you will have a profitable year. I made a channel where I can share my charts on TG (Haru Charts). you can join and dm me there.
Short
by itsmeharuru
Ascending Scallop Indicates Potential Bullish BOOPUSDT Trade Setup: Ascending Scallop Pattern Indicates Potential Bullish Breakout Introduction: In this article, we will analyze the current trading pattern of OPUSDT on the daily time frame. OPUSDT has been exhibiting an Ascending Scallop Pattern, with the price currently near the breakout zone. A long position has already been initiated, but there is a high likelihood of further bullish movement once the breakout is confirmed above the resistance area at $1.175. Our target level is set at $1.296, with a protective stop loss at $1.154. Over the past 10 days, the price has consolidated within a specific range, showcasing bullish signs within the current trend. Let's delve into the details of this trade setup. Technical Analysis: OPUSDT has been trading within an Ascending Scallop Pattern on the daily time frame. The current price is approaching the breakout zone, indicating the potential for a bullish breakout. Furthermore, the past 10 days have shown consolidation within a defined range, which has also exhibited bullishness within the prevailing trend. Trade Setup: Entry: A long position has already been initiated in anticipation of the breakout. Traders who have not entered yet can consider entering once the breakout above the resistance area at $1.175 is confirmed. Target: Our target for this trade setup is set at $1.296, representing a favorable upside potential from the breakout level. This target indicates the projected price movement after the breakout occurs. Stop Loss: To manage risk effectively, it is recommended to set a protective stop loss at $1.154. Placing the stop loss slightly below the breakout zone can help mitigate potential downside risks. Timeframe and Confirmation: Given that our analysis is based on the daily time frame, it is important to closely monitor the price action for confirmation of the breakout. Traders should wait for a decisive move above the resistance area at $1.175, accompanied by strong buying volume and sustained bullish price action. Once the breakout is confirmed, we anticipate the target of $1.296 to be reached. The timeframe for this trade setup may vary, but it is expected to unfold within a few days or weeks, considering the historical price patterns and the potential momentum from the breakout.
Long
by TheNewsCrypto
21
Will the Optimism update help OPUSDT price accelerate?Last week, there was a very important update for Layer2 of the Optimism Bedrock network. Key points of the optimization: Commission reduction by more than 50%+. Time for depositing funds has been reduced from 10 to ~3 minutes due to the "fee market" model, which helps to prevent DoS attacks. Improved Node/ performance, reducing node synchronization time by 50 times. Reduced fees make Optimism Mainnet the cheapest Ethereum L2 for token exchange. The Optimism team is actively working on the project's development, building a very strong ecosystem, and seems to believe in the prospects of their brainchild. But so far, all these updates have not had much of an impact on the OPUSDT price. Looking at the chart, we can assume that the growth of the Optimism token price to a strong liquidity zone of $1.47-1.50 in the coming days is a very positive scenario. Let's see, if the crypto market participants are interested in Optimism, to push the Op price up in the future, and the number of likes and comments under this idea will be a good "litmus test". _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
24
Optimisim possible Scenarios What's Next?!! 👀 OP today analysis💎OPUSDT is currently trading at a critical stage, with two possibilities observed. The price is consolidating after making a lower low below the triangle pattern, indicating some bearish sentiments. 💎This is further supported by the price maintaining its momentum below the Ichimoku clouds and the RSI also showing the same downward movement. 💎On the bullish side, if it breaks above this triangle pattern and the RSI signals an upward move, we could see a positive shift. 💎 In the ever-changing crypto universe, staying updated and adaptable is essential. Stay tuned for more updates and enjoy your trading journey!
by MyCryptoParadise_Simon
1
OPtimism At Its Best 😁Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. OP has been bearish trading inside the falling channel in green, and we are currently approaching the lower bound. Moreover, the zone 1.0 is a strong demand zone and round number. 🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue demand and lower green trendline. As per my trading style: As OP is sitting around the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
20