OP/USDT Secondary trend. Wedge. Pivot zones. 27 07 2024

OP/USDT Secondary trend. Wedge. Pivot zones. 27 07 2024

Logarithm. Time frame 3 days. A descending wedge is forming. The price is near the dynamic Gann support (reaction from it), but still in the range of the descending wedge pattern. The reaction in this resistance zone will determine the trend for the near future.

On the chart, I have specifically shown the minimum percentages of the two key reversal zones for the trend to local resistance levels, for the potential of option A and B.

Major trend.
OP/USDT Major trend. 07 2024 Time frame 1 week.

交易進行

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.