Optimisim Swing Long Idea - OP COIN LONG
2024-11-22

Price has run the monthly liquidity, creating upward momentum and breaking the weekly bearish trend. Recently, we broke the bearish trendline that had been driving the bearish movement since Spring 2024. The price closed above the trendline, retested it, and then rejected strongly.

Currently, the price is moving impulsively upward as ETH gains bullish momentum.

I’ll be looking to open long positions within the weekly demand zone marked on the chart. I don’t expect another retest of the trendline, as we’ve already retested it and seen a solid rejection.

I’ll seek LTF confirmations before engaging with the price.

Stop-loss: Daily close below $1.27
Target 1: $3.04
Target 2: $4.05