OP / TetherUSLong
OPUSDT: Watch for Neckline Retest & Bullish OB Confirmation.
đź’Ž OPUSDT has recently broken out of an inverse head and shoulders pattern, which typically signals a bullish move.
đź’ŽAdditionally, OP has displayed CHoCH (Change Of Character) & BOS (Break Of Structure), further supporting the bullish market structure.
đź’ŽCurrently, 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.
đź’ŽHowever, 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.
đź’ŽAdditionally, OP has displayed CHoCH (Change Of Character) & BOS (Break Of Structure), further supporting the bullish market structure.
đź’ŽCurrently, 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.
đź’ŽHowever, 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.
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