OP Possible Double TopOP Possible Double Top Pattern.
If we break down neck line then I will Enter short
OPUSDT trade ideas
OpUSDTDespite the momentum change we might be experiencing or expecting for the bulls to take over, I'm still very much bearish on op for now.
Theirs a double top pattern in the daily timeframes and still very low volume to start correcting just yet, and still lots of order below to fill.
OPUSDT Support retestAfter having a double top, we seem to have found a nice order block. Low TF confirmation (5/15M) to see (down)trend reversal would be my go to. 4H timeframe confirmation would be to break out above order block.
OP Order Block Long Setup / Top down analysis Price is at HTF Key support area where price forms a run of the lows and an h1 MSB OB Setup, expecting a retracement at 50% or the OTE Zone, longing with 2R stop at the swing low.
This setup has a winrate of 49% from my Trading system and i do not guarantee this setup will work, always implement Proper Risk Management in your entries.
Sell OPOP potential Wyckoff Distribution with UTAD (1.618).
Price congested from 22 December 2023, and stay in range ($3-4.1).
Setup for catching top (UTAD)
-for safety and confirmation, u can look on 1h-15m chart when price hit 4.3-4.37 with reversal pattern-
Stoploss 4.7294
Entry 4.3771
Checkpoint/Reduce stake 3.162
Take Profit (All) 2.105
OPUSDTThis is my approach to op chart !
we have a Choch in Ltf and the best POI for long trades is IFVG.
#TOBTC #LQR #OP in these time frame Op just break down a dynamic trend line , for now these 0.382 fibo level are imprtant to watch
break down this will lead the prce to 61.8 fibonacci levles
allways DYOR!
OPUSDT: Bullish Trend (Falling Weidge)OPUSDT.P is forming Falling wedge with Bullish Dervergence, So we wait for the break out of the privious LHs to confirmation of the Bullish Trend and take a new Long Entry.
OPUSDT AnalysisToday, I'd like to provide a detailed analysis of the OP/USDT perpetual contract on the Binance exchange, shedding light on the current market conditions and potential risks.
Current Price Overview:
As of the latest data, the OP/USDT price stands at approximately $3.74, showing an uptick from its recent low of $2.50 earlier this week. This upward movement has sparked interest and optimism among traders, contributing to a bullish sentiment in the market.
Technical Analysis:
The price chart reveals a notable bullish trend characterized by higher highs and higher lows, suggesting increased buying activity. The Relative Strength Index (RSI), an important momentum indicator, is above the 50 mark, indicating that the bulls currently have control.
Concerns and Considerations:
While the chart suggests a bullish trend, it is essential to exercise caution due to a few key considerations. The volume accompanying this recent rally is relatively low. Low volume during an uptrend can be a cause for concern as it may indicate a lack of strong buying support.
Key Points to Note:
Bullish Trend: The price chart indicates a bullish trend, with higher highs and higher lows.
RSI Above 50: The RSI is currently above 50, signaling a prevailing bullish sentiment.
Low Volume: The low trading volume raises concerns about the sustainability of the recent price increase.
op InteligentAssetbullish scenario
resistance 3.9
bearish scenario
supports 3 in 50 ema &
upper limit channel, 2.7, 2.1 M pattern
target & 200 ema
$OP (L2s Space) Retesting Previous All Time HighThe NASDAQ:OP token is the native cryptocurrency of the Optimism network. Optimism is a Layer 2 scaling solution for Ethereum that aims to increase the scalability and reduce the costs of transactions on the Ethereum network.
OPUSDTOPUSDT is in strong bearish trend and also form bearish flag pattern. Recently the instrument has break through important support zone.
Now the price is trading within the bearish flag and seems like it getting ready to break it.
Will the sellers took benefits from these bearish confluences?
OP long ideamy main area of interest on op, invalidated if we start closing below that 2d(t) poc. will look to ride this into kingdom come if we can see a reversal on btc without sucking the life out of most alts.
buy by R/1 (OP)📊Analysis by AhmadArz:
Trade in low level of renge.
🔍Entry: 3.747
🛑Stop Loss: 3.644
🎯Take Profit: 3.851
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💡Join us on TradingView and expand your investment knowledge with our five years of experience in financial markets."
🚀Please boost and💬 comment to share your thoughts with us!
Chart Pattern Analysis Of OP
In month chart,K3 just break up the neck line of a potential double bottom.
It seems to be accelerating.
In week chart,
If K3 break up K2, that will verify the strong of the bull market.
Will the resistance stop the bullish momentum ?
I don’t know.
I will try to buy some if I found there are reasons to verify the weakness of the resistance.
It seems that the demands had absorbed the supply.
If the following candles k2 or K3 verified that,
It will be a good opportunity to buy in.
OP/USDT Bullish long in 30MIN, Targets 3.95 & 4.20OP/USDT is bullish in short term 30min time frame, no major pump but expected 15% up move from here.
Targets 3.95 & 4.25
OPUSDT LONGLONG POSITION
Signal Validity: 7h
Order Price: 3.769
TP: 4.21
SL: 3.6
Margin: 2% of the capital
Risk/Reward Ratio: 2.75
CROSS 3X-5X
Pay attention to the validity time of the signal from the time of publication. After the end of credit, if the order is not activated, delete the order.
See the results on the channel.
OP bullish ideaInverted and ascending scallop pattern
It's a bullish pattern but always have an SL below support in case of failure
Educational purpose only
Nfa
Mock Up Price Action for OP | Mid Term (12HR)Mock Up Price Action for BINANCE:OPUSDT | Mid Term (12HR)
- Watching and waiting for opportunity to enter short
- I do love my points of confluence lining up with long term trends
OPUSDT SHORT POSITIONSHORT Position
Signal Validity: 6h
Order Price: 3.995
TP: 3.4
SL: 4.242
CROSS 3X
Margin: 2% Fund
Risk/RewardRatio: 2.79
Pay attention to the validity time of the signal from the time of publication. After the end of credit, if the order is not activated, delete the order.
