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Opanalysis

OP: Keep watch for potential longterm bullish signs. 🚀💎 Paradisers, #OP is going to approach the BB zone, or in simpler terms, a previously broken resistance zone that could now act as support. 💎If #OPUSDT exhibits a Change of Character (CHoCH) and Break of Structure (BOS) from this area, we can anticipate a bounce from this level. 💎Should this level break down, our next area to watch for a potential bounce is the demand level, though we'll need confirmation before proceeding with any trades. 💎However, if the price breaks down through both these levels without confirmation, a bearish move might be expected. Nevertheless, I am not focusing on bearish strategies at the moment and would advise caution with short positions for now.
by MyCryptoParadise_Nathan
OPUSDT: Watch for Neckline Retest & Bullish OB Confirmation. 💎 OPUSDT has recently broken out of an inverse head and shoulders pattern, which typically signals a bullish move. 💎Additionally, OP has displayed CHoCH (Change Of Character) & BOS (Break Of Structure), further supporting the bullish market structure. 💎Currently, the price is approaching a retest of the neckline area of the inverse head and shoulders pattern, which coincides with a strong Bullish OB (Order Block) characterized by FVG (Fair Value Gap) above it. Any formation of a bullish candle in this area would be considered confirmation of the bullish trend. 💎However, if the price breaks down below the bullish OB, it would be prudent to wait and ignore trading OP until clearer price action emerges. It's important to note that due to the overall bullish trend in the market, bearish scenarios are less likely at this time.
Long
by MyCryptoParadise_Nathan