We do not take the fundamental OPUSDT factors into account because, to be honest, they have no impact on price action on the chart!
We will focus exclusively on setting the price action. For over a year, we have been in a downward trend.
Things cannot fall forever, so considering seasonality and ongoing quantitative easing, I expect the price to find support in a small demand block (to cover the wick of October 10), followed by an impulsive bullish move and a structural break on the weekly timeframe.
After that - testing the weekly FVG and continuing towards the weekly demand block and buying liquidity area.
Once the targets are reached, I will update this idea.
If the price moves below the wick of October 10, we will enter a free fall into the price discovery area.
✅ Trade here on $OP
