🚨 $OP Bearish Consolidation, I'd short below 0.340
Price Action & Market Structure: Price has been trading in a range between approximately 0.3399-0.3554 with recent tests of the lower boundary.
Multiple rejections at the 0.350-0.355 zone create a resistance cluster, while the 0.340 level provides temporary support.
K-line patterns show several bearish engulfing candles and pin bars at resistance levels, suggesting selling interest at higher prices.
Recent K-line data shows increased volume during downward moves and reduced volume during upward retracements, suggesting selling pressure dominates.
Capital Flow: Contract net flow shows recent outflows (-615K over 8H, -760K over 12H), indicating bearish sentiment in derivatives market.
Spot net flow shows mixed signals with recent small inflows (4.5K over 8H) but larger outflows over longer periods (-541K over 24H), suggesting cautious institutional movement.
Entry short $OP : Immediate short entry if price breaks below 0.340 with volume confirmation
Alternatively, short on rejection near 0.348-0.350 resistance zone
Stop Loss: 3.5% from entry point (0.3518 for shorts entered near 0.340)
Target Price $OP : Primary target: 0.3349 (support level)
Secondary target: 0.3299 (next support zone)
Monitor for any break of the 0.3554 level which would invalidate the bearish scenario.