Optimism Short-Term 100% Target (Great Risk-Reward-Ratio)➖ Optimism has been dropping since, well, since inception. It produced a strong bounce for the first time in July 2024. The bounce led to a lower low in early August and after mid-August the action moved back above the July 2024 low.
This law is clearly marked on the chart.
This a short-term chart
OP/BTC - Optimism: Failure Swing◳◱ 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 coul
✳️ Optimism | Trading Altcoins vs Bitcoin (145% Growth PotentialAfter 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 B
Optimism poised for a 75% draw downTLDR: 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
Optimism (OP) formed bullish Gartley for upto 11% pumpHi 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
See all ideas
Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.