DYDXUSDT trade ideas
DYDX Bullish Broadening WedgeLooking at the daily chart we can see that a broadening wedge pattern has formed which is very bullish for DYDX.
If you zoom out on the weekly you can also see a triple bottom from which we've just retested the neckline.
Overall I'm expecting some bullish moves from DYDX in the next coming weeks.
DYDX setting up for a breakout?perfect bounce from support zone that held all april, now breaking local trend resistance..
still below pivot level though, I'd like to see a break of 2.8.. if that comes a rally to 3.20-3.54 can be in play
break back below trend resistance and shorts take back control.. boost and follow for more. thanks
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
Comment if you have any questions
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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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