Short OPOP will go down hard for the rest of this year.
Overall we know the market will be going down over the next few weeks.
OP has serious problems.
Unlocks will inevitably send this coin tumbling.
Coinbase news is bad - see COIN chart.
This is a longterm play for the next 2-3 months. Although I expect we shall see some of these targets much sooner.
OPUSDT trade ideas
OP Big Pump is Incoming✨Hello Traders🖐🏿
OP is froming a descending triangle, that may break it after 2.35$ touch, We can open a long position in 2.35$, with targets those marked in the chart.
This scenario happened to this coin, when its price was dropped to 0.64$, and after that exploded.
Now 2.35 is 0.64.
Rejected 1-Hour Order Blocks and Broke Market StructureMy target is above the 1-hour bullish order block in green near the daily S/R level.
There seems to be confluence there with the trend line meeting as well.
Like MAGIC, I was too early with my first call a couple days ago.
Patience I must learn.
Roll Up Rollup - Layer 2sSo the theme for the last bit of alt season was probably layer 1s such as AVAX and SOL
If dollar topping and risk bottoming here most things will do well
But i think one theme for the likely coming alt season would be layer 2s (scaling solutions)
The layers refer to the subsets of the future blockchain internet (web 3)
Vitalik has been bigging up L2s since the merge
If eth wins the web 3 race (not much competition) it needs to scale; and sharding is a long way off
As such as i see it we have an ascending hierarchy of scaling:
Side chains (matic)
Optimistic rollups (optimism)
Zk Snarks (Loopring, mina)
Zk starks (Immutable X)
Skale is a hybrid 1/2 as far as i am aware and matic/polygon is moving into starks and snarks
I think everything i mentioned here does fine
But until starkware has a token immutable x and possibly matic have some usp on starks i think
GRI 2022
OP - Similar signs to BTCWas I wrong about OP back in December? Yep. I sure was. I'm not afraid to admit it, either. Nobody is right 100% of the time and if they claim to be, they're lying to you.
Alright, now that we have that behind us, lets look at OP from a purely tecnicaly perspective. I'm going to focus on the wavemaster and the momentum indicators and check the confluence they have with each other here on this 4h timeframe.
The red eyes on the chart are displayed when buy or sell signals formed on both indicators. The most recent orange eye happened to occur when the wavemaster indicator signaled a sell, but the momentum indicator showed that we weren't at the top of the momentum channel (not displayed).
We're also starting to see some signs of bearish divergence on these higher timeframes and we're also starting to see patterns of higher highs and higher lows with some compression evidence as well. I'd rather wait to see how the formation breaks vs trying to just simply short here and hope for the beest.
If you tried to short back in December, for instance, and had no risk management, your face got ripped off completely. At least exit with some dignity and know when you're wrong. Leave the asset and move on to something else if you're wrong. You can always come back and revisit another day which is exactly what I am doing with OP now. I walked away, let it go nuts, and now I'm back watching the formation to see what is coming next.
I'll continue to wait. The formation we're in typically resolves down, but we'll have to see what BTC decides to do and see if alts follow suit. Pay attention to USDT.D and BTC.D on higher timeframes. They'll give you the first clue as to what the market wants to do.
OPUSDTafter breakout out of Adam & Eve pattern on 2D chart and gain more than 70% bullish.
op consolidate a bullish pennant above the neckline of Adam & Eve pattern.
expecting more bullish incase of the upper side breakout to be 5$
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Optimism perhaps the most significant innovation of 2022? PT2Continuation of previous idea posted Jun 8, 2022
Fundamentals:
+ OP/ Optimism native token
+ By far the most significant innovation of 2022
+ 2nd largest ETH L2
+ Decentralized Airdrop
Opinion:
Optimism has an incredible future. The technology is safe and sound. One of the fastest L2's. Key partners, cross interoperability. However, given the current macro and it reaching all targets from my previous Idea, I feel like the trend is exhausted. It is highly likely we will see significant downside from here, but we should not exclude the possibility of a spike above current levels.
Notes on how I personally use my charts/NFA:
Each level L1-L3 and TP1-TP3 has a deployment percentage. The idea is to flag these levels so I can buy 11% at L1 , 28% at L2 and if L3 deploy 61% of assigned dry powder. The same in reverse goes for TP. TP1: 61%, TP2:28% and TP3:11%. If chart pivots between TP's, in-between or in Between Sell levels these percentages are still respected. I like to use the trading range to accumulate by using this tactic.
Just my personal way of using this. This is not intended or made to constitute any financial advice.
This is not intended or made to constitute any financial advice.
FED Macro Situation Consideration:
All TP's are drawn within the context of a return to FED neutral policy. I do not expect these levels to be reached before tightening is over.
NOT INVESTMENT ADVICE
I am not a financial advisor.
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Short OP vs USDOptimis pumped on the Coinbase hype today and it made a SFP at Range Highs on the daily.
Took a short here with SL at todays Highs, this is a swing play for me so I expect it to play out in few weeks.
Mid Range is the target.
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OPUSDTI just want to give you a glimpse
Loli's rally was very powerful, then it corrected, but the next time, with two rallies and correction, it could not reach the previous ceiling and only the candle closed below the price.
From my point of view, it was only Hunt
If the price can pass the floor of the last rally, it will enter a deeper correction