📉 OP/USDT: Multi-Timeframe Bearish Analysis
I always start from the monthly timeframe and work my way down to the daily chart to build my overall bias.
🔹 Monthly: Price entered the FVG but failed to move above its 50% level, resulting in bearish rejection. On the next interaction, price was rejected from the lower 25% portion of the FVG, showing continued selling pressure.
🔹 Weekly: Price is around the 75% swing retracement area and has failed to break the weekly order block.
🔹 Daily: Price is also showing rejection from the daily order block, aligning with the higher-timeframe bearish sentiment.
📊 My Game Plan:
With all three timeframes showing bearish confluence, I’m not looking for buys yet.
For a potential buying opportunity, I want to see price break above the monthly FVG and have it act as an Inverse FVG (IFVG), providing bullish confirmation.
Until then, I’ll wait for confirmation rather than force a trade.
💬 Will $OP continue lower, or can buyers shift the structure bullish?
#OPUSDT #CryptoAnalysis #PriceAction #TechnicalAnalysis #BinanceSquare
I always start from the monthly timeframe and work my way down to the daily chart to build my overall bias.
🔹 Monthly: Price entered the FVG but failed to move above its 50% level, resulting in bearish rejection. On the next interaction, price was rejected from the lower 25% portion of the FVG, showing continued selling pressure.
🔹 Weekly: Price is around the 75% swing retracement area and has failed to break the weekly order block.
🔹 Daily: Price is also showing rejection from the daily order block, aligning with the higher-timeframe bearish sentiment.
📊 My Game Plan:
With all three timeframes showing bearish confluence, I’m not looking for buys yet.
For a potential buying opportunity, I want to see price break above the monthly FVG and have it act as an Inverse FVG (IFVG), providing bullish confirmation.
Until then, I’ll wait for confirmation rather than force a trade.
💬 Will $OP continue lower, or can buyers shift the structure bullish?
#OPUSDT #CryptoAnalysis #PriceAction #TechnicalAnalysis #BinanceSquare