$OP is a well-known currency and a "star currency" that has been hot in the market.

Whether it is technical or news, it is a hot topic in 2023, especially the return on investment is relatively good.

Although it does not have the returns of more than ten times that of other altcoins, it is still a very outstanding performance in this year's local bull market.

The last time I paid attention was on December 26, 2022, and there was also a reminder at that time

At that time, the price was still 0.928 US dollars, and everyone was urged to enter the market. Later, it was also warned at 3 US dollars that there was a risk of peaking.

After clearing the position, I stopped paying attention to it because I think the 3-5 times space in the bull market is the "highest return value".

Now half a year has passed, and looking at the trend of OP, it is still a very strong currency.

There was a big drop in June this year, but it did not break the previous low. Instead, in the subsequent rebound process, there was another doubling of the market.

This is rarely seen in other coins. Although the altcoins were very strong in July and August, there were very few that achieved a double-digit gain.

There are only two possibilities for a strong rebound

The first is that everyone in the market (retail investors, institutions) recognizes it

The second is that OP’s founding team and investors are of one mind.

If a coin can stand firm for a long time, we don’t need to consider the fundamentals. What we need to consider is when its value will return.

This year, my view is still conservative, for two reasons.

One reason is that the market situation for this year has been planned in December 2022.

Secondly, 2024 is the time point for BTC halving, which means that a big bull market will follow, and sufficient time must be left for preparation.

With these two key factors, my focus has basically changed in the second half of this year, which is also one of the reasons why I don’t pay attention to OP.

From a technical perspective, OP's rebound has also begun to encounter key pressure areas.

1.76-3.29 USD is the bottom of the previous big shock range. If it falls below, it will naturally turn into pressure.

Last week, the closing price was a Yin line, which engulfed the previous two small Yang lines, and appeared near the pressure level, which means that the market may change.

Moreover, the volume of this rebound is gradually shrinking and the K-line entity is gradually getting smaller. At present, a reversal pattern has appeared near the pressure level.

Then the probability of a subsequent market reversal begins to increase.

If you have bought the market at the bottom before, you should have made a lot of profit. It is very important to protect the principal. It is harmless to take a chance on the profit.

Sometimes you can’t be affected by the news. Many people are waiting for ETH’s Cancun upgrade, which is good for L2, so they have been holding OP and ARB.

But think about it from another perspective, if retail investors all know it, would the major players not know it?

This is also the most magical part of the market. Everyone has their own judgment and choice, which is why the currency circle is so charming.

There will be no excessive unlocking today, just reminding everyone to pay attention to risks, and the other thing is to focus on preparing for the big bull market

Many people are unable to get out of this situation nowadays. They always want to change the status quo in a short time and make more money. This is basically a very unlikely thing.

Everyone has many cryptocurrency communities, and any one of them has 300 people, which means there are thousands of people. Among these people, how many of them have successfully made it to the cryptocurrency market through one or two waves?

Therefore, the current desperate situation is not caused by a short period of time, but the accumulation of wrong choices over the past 1-2 years.

If you want real change, you need to plan for the next 1-2 years to achieve it, so that you know what to do and what not to do at each stage.

If you keep doing this, your life and destiny will change visibly, because many people around me have achieved this.

The above analysis is just my personal opinion, and does not provide any investment advice. Trading is not a casual thing, so be cautious, cautious, and cautious again.