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
Related coins
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
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