Logarithm. Time Frame 1 week. After the listing there were 3 cyclical pumping of the “participation” phase. PR, hype, connection of the majority in mass media. The reversal occurred with a typical breakout in the secondary trend of a triangle (first pumping) or a wedge (second pumping). Now the third wedge is forming, the price is near the dynamic Gann support (reaction from it), but still in the range of the descending wedge pattern.
On a line chart (liquidity, no slippage) the declines are cyclical at -63% each time according to the algorithm. Each successive top +55% of the previous secondary trend.
It is quite possible that something similar will happen again this time (not necessarily), but only ideally after holding dynamic fan support and breaking wedge resistance. I have purposely shown only medium-term targets after a trend break.
Gann's trend fan is plotted on the chart, i.e. dynamic support/resistance areas for the future.
Optimism customization - L2's blockchain scaling solution ETH Crypto funds have invested a total of $267 million.
Secondary trend Time frame 3 days
On a line chart (liquidity, no slippage) the declines are cyclical at -63% each time according to the algorithm. Each successive top +55% of the previous secondary trend.
It is quite possible that something similar will happen again this time (not necessarily), but only ideally after holding dynamic fan support and breaking wedge resistance. I have purposely shown only medium-term targets after a trend break.
Gann's trend fan is plotted on the chart, i.e. dynamic support/resistance areas for the future.
Optimism customization - L2's blockchain scaling solution ETH Crypto funds have invested a total of $267 million.
Secondary trend Time frame 3 days
Note
OP/USDT Secondary trend. Wedge. Pivot zones. 27 07 2024
Trade active
17 04 2025 from the breakout of the wedge the price reached the level zone of 2.857 (81%) and from it the trend reversal under the general trend of altcoins, breaking through the "neck" zone of the head and shoulders, thereby realizing this pattern on a large scale and reaching the reversal zone of the minimums of the level of 0.509. According to the fan, we went down to the range below. Consolidation above the dynamic support opens up the potential for movement to its resistance, I specifically put another meridian, as from it with a high degree of probability, even with the implementation of the bullish potential, there will be a significant pump / dump rollback. It just intersects with the previous consolidation of support, which in this case acts as resistance (those who previously bought in this zone will sell, thereby going into breakeven and stimulating the stop of the impulse and a rollback (logical probability).Locally, again having formed on the fall, as before, a descending wedge in the secondary trend. It has not yet been fully formed, the price is not clamped. But, conditionally, the price is at the minimum zone. You can start gaining from the average price, or work on a breakthrough of the formation, observing risk and money management. If you are scared (it is always like this at the minimum zone) - then everyone is the same, and most refuse to buy, but willingly buy when the price is already expensive.
A breakthrough of this wedge is a corrective upward movement to the mirror resistance zone of the previous consolidation (highlighted in gray), if in general, a "revival of faith" is observed in alts.
Also after wedge breakout, if the market as a whole is bearish on alts, then they will make a cut (in this case, a repeated set) at the zone of minimums in a wide range of price slippage and the complete death of faith in the candy wrapper of "crypto whales", highlighted in green.
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✅ Telegram. Finance + Trading: t.me/SpartaBTC_1318
✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
✅ Instagram: instagram.com/spartabtc_1318
✅ YouTube (Rus): goo.su/vpRzRa2
✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
✅ Instagram: instagram.com/spartabtc_1318
✅ YouTube (Rus): goo.su/vpRzRa2
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.