DYDX / TetherUSShort
Flagging out, breakout, consolidate.. now fall and retest
DYDX. I don't know anything about this crypto, but people have been throwing around the name on TradingView and so I thought I'd chart it.
Very new coin. It had a nice little run-up for a couple of weeks, but we have obvious bearish volume divergence.
Good consolidation in this new range, but I foresee bearish volume continuing to increase with an eventual .618 retracement in the cards, perhaps even touching the previous blue weekly resistance line and turning it into support before we head higher again.
I don't have plans to make this purchase, as there are other things on my radar. However, charting new coins is spectacularly fun because they are so very easy to chart.
Very new coin. It had a nice little run-up for a couple of weeks, but we have obvious bearish volume divergence.
Good consolidation in this new range, but I foresee bearish volume continuing to increase with an eventual .618 retracement in the cards, perhaps even touching the previous blue weekly resistance line and turning it into support before we head higher again.
I don't have plans to make this purchase, as there are other things on my radar. However, charting new coins is spectacularly fun because they are so very easy to chart.
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