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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: $2.50 ⚖️ Risk/Reward Ratio: 1:1.5 🔑 Key Takeaways 🔑 1. Three Pushes up in a Bull Channel. 2. Potential Double Top at Resistance Zone 3. Gap to 30EMA and Support Zone 4. Enter 1:1.5 Short Scalp with Confirmation 5. RSI at 61.00 and below Moving Average. Bias to Short. 💰 Trading Tip 💰 The RSI on its own is a weak datapoint to make a trade decision. But when used as a supplement to key price action analysis, can be a fantastic orientation check on the state of the market. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
COINBASE:OPUSDShort
by TraderEngineering
Ethereum's Merge EIP-4844 can Boost OP to 4.44$Is good to have like minded cool friends and Cryptonite Clark is exactly that to me. ''Professor, Just reading about Ethereum's next merge, EIP-4844, that's happening later in the year. The main beneficiaries are Layer 2s (www.coingecko.com), as it will reduce the cost of rollups, which they rely on. There's likely to be a "Layer 2 narrative" leading up to it, and ETH will probably recover lost ground against BTC. ARB and OP are top picks.'' I did my research and he is absolutely right. Then again I do prefer OP vs ARB so here we go with an updated OP chart: Price is behaving nicely and a breakout over 1.60$ is my expectation for next. From there it's destination 2.33 which offers a nice trade with excellent R/R since risk (SL) is over 1.3 and reward (TP) lies alomost 4 times higher. Then again there is the ALTs possibility for Bullish scenario which can get the price to 4.44$: One Love, the FXPROFESSOR Awesome OP news: Coinbase's Base to adhere to Optimism's open neutrality framework Link: www.theblock.co
BINANCE:OPUSDLong
by FX_Professor
5
OP (Optimism): Surging High in the Ethereum Layer-2 ArenaHello Crypto Enthusiasts! 👋 The FXProfessor here, spotlighting the impressive surge of OP, Optimism's native token. Let's dive into the factors driving this remarkable growth and its potential impact on the Ethereum ecosystem. Recent Price Surge: 🚀 OP experienced a jaw-dropping 25% rise in just 24 hours, reaching a high of $2.13, marking its highest trading level for the year (u.today). 📊 This surge is part of a broader 40% monthly upswing, fueled by a series of ecosystem updates and enhancements in Optimism's technology stack (u.today). Kraken's Influence: 💹 Kraken's introduction of Tether (USDT) deposits and withdrawals on Optimism played a significant role in propelling OP to an 8-month high of $2.188, signaling a market confidence boost (nulltx.com). 🌉 This development enhances the utility and accessibility of the Optimism network, promoting wider adoption and improved decentralized transaction capabilities (nulltx.com). Optimism's Technological Advancements: 🛠️ As a Layer-2 scaling solution for Ethereum, Optimism leverages optimistic rollups technology to enhance transaction throughput and reduce fees on the Ethereum mainnet (nulltx.com). ✅ The recent governance vote passed the first post-Bedrock network upgrade, "Canyon," reflecting Optimism's commitment to continuous improvement and innovation (u.today). 🌍 OP token holders enjoy the privilege of participating in protocol decisions, shaping the future of this growing ecosystem (nulltx.com). FXProfessor's Insight: 🌐 Optimism's strategic advancements and community-driven approach showcase its potential to revolutionize Layer-2 scaling solutions on Ethereum. 🔍 The sustained growth and recent surge in OP's value reflect the positive sentiment and trust in Optimism's capabilities and future prospects. Trade with foresight, embrace technological advancements, and let's witness the evolution of Optimism in the Ethereum Layer-2 space! One Love, The FXProfessor 💙 Links: nulltx.com u.today
BINANCE:OPUSDLong
by FX_Professor
1