DYDXUSDT.P trade ideas
DYDX NEW UPDATE 12HHi, dear traders. how are you ? Today we have a viewpoint to BUY/LONG the DYDX symbol.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
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$DYDX could push hard up !DYDX seems to have developed a fairly typical WYCKOFF accumulation pattern on the daily.
The price seems to be ready to break out of this pattern upwards, accompanied by a significant increase in volumes.
On the other hand, DYDX appears to have exited from the top of a bullish diamond, in blue. Price recently broke through resistance
corresponding to the level of AR and AU.
It would now be necessary for the price to break free from the last high at $3.63 to consider a nice bullish push.
The rough projection of the diamond lens would give us a price action between HKEX:7 and $8.
You have to be aware that this type of investment is risky and that my analysis is not investment advice.
Dydxusdt Trading opportunityDYDXUSDT has recently exhibited a triple bottom pattern on the daily chart, with a price break above the neckline and a subsequent close back inside. This pattern indicates a potential bullish reversal for the coin, with the main pattern target remaining in the area of $6.93-$7.26.
However, if the price fails to regain the resistance level of $2.717, the best buy zone may be the demand zone area. We should keep an eye on this level as a potential entry point with good bounce is expected.
Furthermore, DYDXUSDT is currently trapped inside a bullish pennant, which should break upwards in a good bullish market. However, we should exercise caution in case it breaks down due to BTC weakness.
As with all technical analysis patterns, it is a must to consider all factors before entering a position, including other technical indicators, fundamental factors, and market sentiment. While the triple bottom pattern suggests a potential bullish reversal, there are always risks and uncertainties involved in cryptocurrency trading.
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✴️ dYdX Triple Bottom, Bullish Breakout (275% Potential)We will keep this one short as more information can be found in a previous trade idea.
dYdX here is showing a triple bottom and now a bullish breakout.
This weekly session is moving above a consolidation pattern which can lead to additional growth.
I am seeing an easy target of 60% with a potential to hit 275% mid-term.
Can be a bit lower but also a bit higher...
Thank you for reading.
I'll share additional charts with you all looking great.
Namaste.