OPTIMISM OP Coin Technical Analysis Price Prediction with Elliott Waves Analysis. #optimism
What’s going on YouTube Welcome Back to the channel welcome back to more bless crypto so in today’s video I am going to be having another look at optimism op to see if we can determine where the price is going to be going next so if you guys do appreciate the content please do
Consider subscribing to the channel give it a thumbs up and make sure you hit notifications Bell when I’m uploading future content and with that let’s get straight into it so um I will really just be focusing on this move here but just really quickly because we are getting a bit of a dump
In the market and I want to keep you guys updated um we are in a couple of different scenarios one is being that we went up in a wave one we came down in a wave two we then went up in a three came down in
A four this was the wave five and then we did an a an overshooting wave B we came down in a wave C to complete wave two and now we are in the first impulse to the upside in a wave three and as you can see if that works out
We’ll get a nice little inverse Head and Shoulders on the chart um the other scenario is is that actually um we could be looking at this as a wave one we came down in a wave two all of this move to the upside was away three
And then we did an a overshooting wave b and a wave C to complete wave four and we will get one more wave to the upside so we have to kind of look at both of those uh different scenarios I’m going to give you guys the key levels that we
Do need to hold as we are getting a bit of a dump in my opinion if we lose two dollars two or at the worst case scenario 1.90 then it could very well be that we are going to reset this wave to so then we would look at all of that as
The wave one okay and then we are coming down in this wave two and then we would have another chance to Rally in a wave three so we still have this support box to fall back on if this first one two pattern fails okay and that is
Um the 618 at 1.63 this 786 at 1.19 and I would like us to find support at the 786 FIB because if we do get down to 93 cents then the chances are we could probably say goodbye to this first impulse to the upside all right so just
Kind of be aware of those key levels that we need to hold let’s Now quickly go on to the hourly chart and I think um the scenario that I did put for you guys on the chart looks like it’s possibly working out now I gave you a corrective price Channel
Um which we did actually come back up to and test from below and we are actually working our way back to the downside so we came back up we tested this uh got a little bit of a fake out above it I did say to you guys you need to wait for an
Hourly or a four hourly candle for confirmation um and obviously we literally came up we tested it and we have now started to collapse back down so we are looking at this as a possible one two pattern and as long as we hold this box here then we have a chance to
Get this third wave to the upside um so it very well could be that we are going to come further back down into this box and get to the 2.22 level which would be the 1.61 sorry the 618 FIB which would be a perfect retracement for
A wave 2 and hopefully we could find support there if we do lose this then I think that we alone would be looking at the 786 FIB coming in at two dollars two and if we end up losing that then we are going to start uh to look at this as
This pattern may not play out but I would give it one more chance at 1.90 but obviously if we lose uh 1.77 then the chances are this move to the upside is going to get invalidated all right so just kind of be aware of that
Um I if we get to the 618 FIB I will be buying just a little bit of optimism um hoping for that third wave to the upside what is that uh price level for a price Target I should say for optimism um we would be looking at if we did come
Down to the 618 FIB I think I already had it on the chart actually we would be looking at getting up to 4.14 one thing to be aware of which I am noticing at the moment is the Dixie has started to pump which is why we are
Seeing a bit of a dump across the crypto Market because Bitcoin is not liking the fact that the dollar has found support at the 786 FIB just quickly drag this over here uh you can see that the dollar has found support perfectly at 786 fib and is
Starting to pump now if that if that means that we are going to start pumping to the upside with the Dixie then I’m not going to particularly think that uh crypto is going to continue to go up where’s my optimism chart um okay so we just have to kind of be
Aware of that guys um that the Dixie is starting to pump so anyway we are in this corrective kind of price Channel and I do think that we have probably a good chance if I just sort of stretch this out maybe draw this trend line on your chart we could literally come back
Down touch this channel from the bottom and then that would give us um a bit of a bounce from that level hopefully we find support at the 618 FIB as well another um way we could calculate this I don’t think this is an ABC anymore I do think
This is turning into probably a wxy but let’s just take a quick measurement to see where the one-to-one ratio is so the one-to-one ratio is coming in at 2.24 which also falls in line with the 618 Fib so we could very well um find a lot of support in this general
Area and then we could then get bounce to the upside but just be aware of these key levels that if we do start to lose them um then it might be time to start thinking about the risking or closing down positions if we don’t find support
In this general area so I hope you guys enjoyed the video please do consider subscribing to the channel give it a thumbs up and make sure you hit notifications Bell when I’m uploading future content and with that take care stay blessed
OPTIMISM OP Coin Technical Analysis Price Prediction with Elliott Waves Analysis. #optimism
Talking about the OP price on higher level time frames and where the OPTIMISM price is expected to go in the future. Also included is some price targets for possible swing trades. Using Elliott waves, fibonacci trading strategy with price predictions and technical analysis.
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