OP is putting in a falling wedge breakout in US dollar terms. Also appears to be trying to bottom out against the king bitcoin
Could be a good punt here
Just look at the OPBTC Chart, no words needed :)
Swept the double bottom lows and is currently pushing against resistance at the USD pair, which I will show you later.
Pretty sure we will see another 30-50% from current levels.
Stay safe!
◳◱ On the $OP/ CRYPTOCAP:BTC chart, the Failure Swing pattern suggests indications that the trend may be gaining or losing strength. Traders might observe resistance around 0.00004557 | 0.00005564 | 0.00007365 and support near 0.00002756 | 0.00001962 | 0.00000161. Entering trades at 0.00003833 could be strategic, aiming for the next resistance level.
◰◲ General...
OP is once again in the 5451 buy zone. Last time it missed the sell target of 12412, but we have a new opportunity to buy more. This is my favorite coin in 2024.
After wave 3 peaked late December 2023, a classic retrace followed... Notice that the retrace low was hit early January and while Bitcoin moves ahead, OPBTC consolidates.
Are you ready for another one?
I am hoping you are having a wonderful day.
The Altcoins vs Bitcoin pairs tend to correct when Bitcoin moves up, this dynamic is no longer valid; What...
TLDR: Lots of well established TA suggests OP takes out the previous lows at 0.41.
Analysis
I am going to begin with the divergence primer just in case a reader is unfamilar with the divergences and what they mean.
Divergence Primer
Classic Divergence (Trend Reversal)
Bearish: Higher highs on price action but lower highs on the indicator
Bullish: Lower...
Hi dear friends, hope you are well and welcome to the new trade setup of Optimism (OP) with BTC pair.
On a 2-hr time frame, OP has formed a bullish Gartley pattern:
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
