OPUSDT → Double top. How far can we fall?

17 set 2024

OPUSDT cannot get out of the bears' clutches. The market continues to form its movement under the pressure of the downtrend. There are important events ahead that could shake up the trading community....



Bitcoin, as well as the rest of the cryptocurrency market continues to decline. Cryptocurrencies are not reacting to Trump's speech in any way, but traders are waiting for the U.S. rate cut in the hope that the encouraging data (0.5% decrease) will increase interest. But the 0.25% decrease will add weight to the bearish paw, which can only strengthen the already current decline.
Technically OPUSDT is forming a global bearish trend, the price is not allowed to update the local highs. The last retest ended with the formation of a double top, which led to a sharp decline.

Resistance levels: 1.469, 1.510, 1.544
Support levels: 1.431, 1.393, 1.3

The 1.431 area is holding the market back from falling, but a strong pre-breakdown accumulation is forming near this area with a target to continue falling. Watch out for the 1.430 trigger, a break of this zone will give downward momentum

Rate, share your opinion and questions, let's discuss what's going on with ★ OPUSDT ;)

Regards R. Linda!

18 set 2024

Trade attivo

Price has broken support, going down :)