Optimism - Ethereum Rollups Solution breaks ascending triangle
Optimism-
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
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
Comment:
OP can pull back deeper. DCA gradually. Dont get carried away and position for being comfortably under short term
Comment:
looking for a min of $3.25 ..... feel its coming
