$OP/USDT 8h (#Bybit) Falling wedge breakout and retest

30 août 2022

⚡️⚡️ #OP/USDT ⚡️⚡️
Exchanges: Binance Futures, ByBit USDT
Signal Type: Regular (Short)
Leverage: Isolated (1.0X)
Amount: 11.3%

Current Price:
1.1450

Entry Zone:
1.1640 - 1.2860

Take-Profit Targets:
1) 0.9540
2) 0.7810
3) 0.5850

Stop Targets:
1) 1.4420

Published By: @Zblaba

Optimism seems to have broken out bullish, but still below 100EMA which acts as strong resistance!
We expect a reversal on supply zone, leading to a pull-back towards the end of the wedge, where we'd look for long down there.

Risk/Reward= 1:1.25 | 1:2.05 | 1:2.95
Expected Profit= +22.12% | +36.24% | +52.24%
Possible Loss= -17.71%

Fib. Retracement= 0.5 | 0.618 | 0.786
Margin Leverage= 1x
Estimated Gain-time= 2-3 weeks

Tags: #OPUSDT #L2 #Blockchain #Governance #DApp #DeFi

Website: optimism.io/

Contract:
#Mainnet

7 sept. 2022

Transaction en cours

All entries filled and up to +13.02% profit so far

Optimism got rejected by 100EMA as planned and seems to be heading towards first target!

19 sept. 2022

Trade fermée: ordre d’arrêt atteint

SL hit with -17.71% (1x) and -1R

Optimism regained 100EMA after all and seems to have confirmed the bullish breakout.
Switching to long from here looks tricky, we'll wait for a pull-back to demand zone first!

19 sept. 2022

Trade fermée: cible de profit atteinte

TP1'd have been reached with up tp +27.55%

Optimism went for the bearish scenario in the end, we've got fooled by that fake-out/stop-hunt.