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Optimism

OP broke through!!! Get ready for an ATH!!my chart here cant be easier to read. its just to show how powerful this OP pump has shown itself to be. Not only has it persevered and held onto support levels with ease. its managed to break all major resistance levels as an entity of its own. OP has never followed BTC or stocks with much correlation; but this is proof OP has a plan all its own! $2 OP. feels like this should be the level to short! A But i believe OP will take this opportunity to soar as far as it can. Id like to imagine it will hit an ATH before this is over. THAT BEING SAID, NO FOMO!! if youre confident, feel free to make an entry one way or the other (long feels right to me). But be prepared for a hefty pullback before it pumps. Ive found that when a stock or crypto breaks a MAJOR resistance level, it generally pulls back quite aggressively before launching back up. In this case, and with OP being OP, i wouldnt be surprised to see a 10-20% pullback before it makes a move upward to new heights. And for the sake of anyone who read this... I DO NOT GIVE FINANCIAL ADVICE! What you do with the information i provide is of your own accord. i hope you find it helpful, and i welcome any feedback and tips.
Long
by AomoriAkuma
Optimism $OP (SHORT) Currently Overvalued Compared to Polygon Optimism, a layer 2 scalability play on Ethereum is currently trading at an $8.2B fully diluted valuation, as compared to Polygon's $9.2B valuation. While TVL (total value locked) on Optimism is soaring, it's still only $1.1B compared to Polygon's $1.7B. We're likely just seeing a rotation of money chasing DeFi opportunities in the Optimism ecosystem as there are no DeFi protocols in the Optimism ecosystem that innovate past what is already available on other L1 and L2 ecosystems. We've seen similar rotations like this before, most of which result in a large run up followed by a steep crash in token price. Lastly, only 5% of OP tokens are circulating, making the price extraordinarily sensitive and volatile, particularly to the downside as more tokens become unlocked and flood the market. Looking at two different shorting opportunities based on key margin pressure level resistance, keeping tight stop losses in case $ETH pumps on the merge narrative and the ETH ecosystem follows suit. Check out my YT channel to learn more about margin pressure levels.
Short
by SistineResearch
OP Short OpportunityMight have missed entry but it very well could come back to it. Trade looks solid but has some considerable risk. It's a bit late to start a short but figured I would share this anyway because you can enter where you want and chose what levels are right for you. This is just my idea/ I am already in the trade but expect it to pull back. . It could also shoot through my stop as well, but I gave it some room. As always do what you are comfortable with. This is not financial advice. Just a trade I am taking and try to share more ideas. Keep an eye on BTC because it will have an effect of this. Sorry this is rushed as I am walking out the door so everything on the chart is not exactly as I usually have it. Trade is live but you might want to wait for entry.
Short
by Z3R0-G3N3S1S
4
OP.Usdt (Y22.P3.E).The trade so far..where is the bottomHi All, I do believe this bear market is not like any other because the current world climate is not like no other, high inflation and interest rates to still come so we will see more down turn on the stocks and crypto is no exception. Having said that, This could be wave 3 to 4 looking for completion. Why wave 3 to 4? Wave 3 to 4 is usually complex, even in a uptrend or downtrend market. We also might have a trading opportunity if it comes using the RSI however in a bear market, targets don't usually hit like in a bull market. Unless its a reversal. The breakout trade can only be a relief rally in my opinion, just like for the others. All the best, S.SAri
by ssari
Why Bitcoin bulls remain optimistic about higher pricesBitcoin (BTC) price has undergone a rejection against a significant short-term barrier but if it can break above a 25% rally could get underway. 10% is up for grabs if bulls can swing from one resistance to another. An endpoint for the run-up is likely to be the 55-day Simple Moving Average (SMA), with bulls potentially booking 25% of solid gains in the process. Bitcoin price sees bulls hurt a bit by a firm rejection from the $21,969 level, the low of June 13, and a key short-term level on the chart. Although price action took a little step back since then, the Relative Strength Index shows bullish signs as it trades back above the oversold area and looks like it is tilting higher. With more bullish pressure mounting, supported by tailwinds from global markets that have entered a sort of a soft patch, Bitcoin could get set to return above $27,000.
BITSTAMP:BTCUSD
by Roberto411