Long

DENT/USDT : Rejected into a rising wedge

Hello everyone 😃

DENT has been rejected into a rising wedge ( It's formed by 2 bullish trendlines ).
Now MACD is slightly bullish and MA 200 is below movement !
Current bearish trendline got one more chance to reject movement for breakout...

But as DENT is approaching lower bullish trendline, MA 200 will try to support it from that level.
So breakout and stay into rising wedge is very possible !
📌 Also there is a support line at pointed level around MA200...

How to break rising wedge then ?
Sadly there is a MA 100 which is above movement and it will makes wedge's higher line stronger !
How ever rising wedge is a bearish pattern, But in bull markets;
Most of them failed to lead the price to lower levels.

So best opportunities for taking long on DENT is :
- After confirmed breakout from bearish trendline.
- After confirmed breakout above rising wedge and MA100.

🔴 Funding is slightly high across all the major exchanges. We can expect small dip during weekend so manage your risk accordingly and buy in parts. Don’t go all in single shot with high leverage otherwise you’ll be punished hard!

Attention: this isn't financial advice we are just trying to help people on their own vision.

Have a good day!
Helical_Trades

Helical_Trades

🔴 Don't forget to join our channels for FREE Premium stuffs !

TELEGRAM :
t.me/Helical_Trades

Instagram ( Persian - فارسی ) :
instagram.com/helical_trades/

Also on:

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.