Today I set up a low lev (2x) long with a 7:1 rr on 
OPUSDT
Reason being that it seems to have bottomed out. fairly close to the VAL and POC. both are at 50 cent and 55 cent respectively. I'd consider adding a little margin IF it comes close to that area. around 48/49 cents I'd consider myself out. my target is 4.50, possibly 78.6 fib at around 4 dollars I'll take some out, but the past ATH of 4.50 should be possible imho.
currently the marketcap is at roughly over 1 billion. to shoot it towards 10 billion is not a big stretch.
currently it followed a downtrend since the last ATH in march 24. possible reaction/rejection once more around that touchpoint. with enough volume and the correct sentiment in the market, I see it push through and retest before going towards VAH at 2.06 and the 50% fib at 2.66.
all things considered, I'll take the chance.
OPUSDT Reason being that it seems to have bottomed out. fairly close to the VAL and POC. both are at 50 cent and 55 cent respectively. I'd consider adding a little margin IF it comes close to that area. around 48/49 cents I'd consider myself out. my target is 4.50, possibly 78.6 fib at around 4 dollars I'll take some out, but the past ATH of 4.50 should be possible imho.
currently the marketcap is at roughly over 1 billion. to shoot it towards 10 billion is not a big stretch.
currently it followed a downtrend since the last ATH in march 24. possible reaction/rejection once more around that touchpoint. with enough volume and the correct sentiment in the market, I see it push through and retest before going towards VAH at 2.06 and the 50% fib at 2.66.
all things considered, I'll take the chance.
Trade active
Currently still partially in the Long, but I've got out with around 75% due to the current correction ish setup I see with eth. also, I'd like to see OP blast through current resistance levels and retest (resistance - support - flip) to get back into it. my smaller position will be open until an ATH or at least (that's my minimum target) of $2.50
Note
to clarify, I got out at $ 0.82, so basically a 100% gain with my 5x long (0.678 till 0.819) PEPE Trade still running as well
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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.