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MyCryptoParadise_Nathan
Aug 16, 2023 7:27 PM

Read or Regret - Head and Shoulders Pattern Alert for OP/USDT Β Short

OP / TetherUSBinance

Description

β‹…
πŸ’Ž Paradisers, let's zoom into OP/USDT. On the 1-hour chart, a head and shoulder pattern is taking shape. However, there's a twist: the right shoulder is a tad shorter than the left one. This suggests we might need to see some consolidation before any potential breakdown of the demand and neckline zone at 1.394.

πŸ’Ž If OP/USDT does break below this zone, our sights are set on potential descents to the demand levels at 1.279 and possibly 1.168. But remember, if the price climbs and surpasses the right shoulder's peak, specifically the 1.575 mark, this pattern might no longer hold water.

πŸ’ŽStay vigilant and keep those charts close, ParadiseSquad!
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