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DYDX / TetherUS

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DYDXUSDT trade ideas

📉 DYDX: Awaiting Shakeout for Further Ascent 🚀DYDX is currently navigating a substantial ascending wedge pattern, having recently experienced a swift breach of the upper boundary that prompted a notable short-term reaction. The current phase involves a retest of the previously contested resistance, which has now transformed into a support zone. A potential shakeout beneath the lower wedge boundary is anticipated to capture liquidity before embarking on the next leg of the upward movement. 📊 Key Observations: 📈 Ascending Wedge Dynamics: DYDX is ensconced within a large ascending wedge, presenting a structure that often precedes decisive market movements. 🔄 Retesting Transformed Support: The ongoing phase involves a retest of the support zone, formerly a resistance level breached during the recent upswing. 📈 Technical Analysis: 🔄 Shakeout Anticipation: Anticipation of a shakeout beneath the lower boundary of the wedge, designed to capture liquidity and set the stage for the next bullish phase. 🚀 Expected Shakeout Strategy: 🔍 Liquidity Capture: The shakeout aims to secure liquidity from both sides of the market, setting the groundwork for a robust and sustained upward movement. 📊 Strategic Considerations: 🧐 Vigilance during Shakeout: Traders are advised to remain vigilant during the anticipated shakeout, recognizing it as a strategic maneuver to capture liquidity before a potential surge. 📝 Conclusion: DYDX's current chart setup, characterized by an ascending wedge and a transformed support/resistance zone, points to a calculated shakeout as part of a broader market strategy. Traders should monitor this phase closely, recognizing its role in securing liquidity for the ensuing bullish momentum. 🚀 Unlock my 3 crypto trading indicators for FREE! 🚀
by AlexWhale
DYDXUSDT - BULLISH OUTLOOKDYDXUSDT is exhibiting a favorable technical setup, suggesting the potential for a bullish trend continuation. Here's a concise analysis and trade plan: Breakout and Retest: DYDXUSDT has successfully broken out from a bearish trendline on the 4-hour timeframe and subsequently retested the trendline and a support zone. This is a classic pattern indicating a shift in market sentiment from bearish to bullish. Bullish Divergence: Additionally, a bullish divergence is observed on the 4-hour timeframe, signaling potential strength in the bullish move. Trade Plan: Entry: Consider entering a long position at the current market price or through a BUY STOP order at a price slightly above the breakout level, around $2.90. Stop Loss (SL): Set the stop loss at $2.45. If any 4-hour candle closes below this level, it could indicate a potential reversal or loss of bullish momentum, triggering the stop loss. Take-Profit Levels: TP 1 @ 1:1 = $3.35. TP 2 @ 1:2 = $3.80. TP 3 @ 1:3 = $4.25. Break-Even (BE): After reaching the first take-profit level, consider adjusting the stop loss to the entry point (breakeven) to secure profits and minimize further risk. This trade plan is designed to capitalize on the breakout, retest, and bullish divergence in DYDXUSDT, providing clear entry, stop-loss, and take-profit levels. Keep in mind that cryptocurrency markets can be volatile, so always stay vigilant and adapt your strategy as needed.
Long
by sunnytrader07
1
🔥DYDX Setup Is Still BullishHi Guys ✌️ 📍 By The Last Update The Price Pumped From 2.8 To The 3.3$ But We Had a Flash Dump To The 2.8$ Support Area Again ,Now The Question Is What’s Is The New Plan And Im Here To Answer This Question ,So Lets Start 👉 As You Can See There Is a 0.786% Fibo At 2.8$ Area Which Supported The Price As Well As Possible ,I Expect a One More Bounce From This Level To The 3.2$ Area And Strong Trend Line Located There Too ,After Breakout This 3.2$ Resistance Level There Is Nothing To 3.7$ As a Short Term Target For Me The DYDX Setup Is Still Bullish
Long
by Bullish_Traders
1
📊#DYDX double bottom target not achieved, worthy of attention👀➡️We started a rebound after reaching a new historical low in June 2022, and the price is gradually rising in the subsequent development. 📈 🧠According to the Elliott Wave Theory, we are completing the 5th wave. 🧠From a structural point of view, we started to rise with the double bottom long structure as the supporting driving force. At present, the goal of the long structure has not been fully realized, so it is still worth looking forward to🙏 ➡️At present, we have completed the adjustment of the daily K cycle and returned to the buying zone near the neckline. We look forward to better performance in the future. 🙏 ⚠️Note that technical analysis is for reference only, don’t forget risk management. If you find it useful, please don’t forget to follow, like and share my analysis post📤
Long
by wolf_king888
6