DYDXUSDT trade ideas
DYDX - Long into ShortSo, as expected in the previous idea (see linked ideas), I think we're approaching to a reaction zone to offer a decent bounce for a lower high. Although the technicals are there for it, be aware that it's not the "most probable set-up" kind of trade because there are good reasons for buyers to step in at lower prices. The target is also unclear due to the nature of the structure, but I'll give it a shot and eat the loss if i get stopped.
A whale address retrieved about 570,000 DYDX and deposited aboutCoinworld reported that according to Lookonchain monitoring, a whale address retrieved 570,266 DYDX (worth about $1.26 million) and deposited 225,833 DYDX (worth about $501,000) into Bybit. Every time the whale address withdraws DYDX, it will be deposited to the exchange for sale.
DYDXThe price is attempting to break above the upper boundary of the descending channel. A successful breakthrough of this resistance level would push the price towards the strong resistance level at 2.36 and the 200 EMA. However, there is a bearish scenario where the price bounces down from the upper boundary of the channel, indicating a continuation of the downward trend.
DYDXUSDT DAILY : GOOD situation (spot)Hi Guys hope you well,
After a good climb and an correction in the price, we are slowly approaching the good demand area. We have two scenarios ahead. I expect that we will first go up and then enter the golden demand zone in the daily time.
SecondChanceCrypto
⏰13/May/23
⛔️(DYOR)
always do your research.
If you have any questions, you can write them in the comments below, and I will answer them.
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DYDXUSDT wants the 0.382 Fibonacci level?DYDXUSDT is testing the previous accumulation phase after a false breakout from the 3.3$ area where the price has daily resistance. This false breakout indicates that there was not enough buying pressure to sustain the price above the 3.3$ level, leading to a potential price reversal.
As per technical analysis, we could see a pullback around the 0.382 Fibonacci level before a potential new short position. This pullback may occur as sellers take profits, leading to a decrease in selling pressure and a potential price increase. However, once the pullback is completed, new short positions may be considered until the 1.9$ area where the price has the demand zone.
The demand zone at the 1.9$ area is characterized by a large number of buyers who are willing to purchase DYDX tokens at this price level. This demand zone is likely to have formed due to a previous period of accumulation where buyers were actively accumulating DYDX tokens, leading to a price increase.
According to Plancton's rules, new short positions may be considered once the price breaks below the 2.9$ support level, indicating a potential trend reversal.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <= 1h structure.
Follow the Shrimp 🦐
DYDX COULD DROP MOREHi, dear traders. how are you ? Today we have a viewpoint to SELL/SHORT 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
Thank You
DYDX update, is market crash near?Hello traders, I am expecting a drop from current zone, by breaking the price of 2.28, and first target will be the FVG box as I have indicated in the chart...
we can clearly see bearish flags on most of crypto coins currently,
and I think we will have a market crash from alt coins,
so you should trade carefully and do not enter the market without marking a confirmation...
as for BTC, I think last target will be the market bottom which is 16k, and if it hits 16k again, it will be a DOUBLE BOTTOM, we will see a nice bull market then...
I don't really work with patterns anymore, but if DOUBLE BOTTOM is formed, it'll be a good sign for bull market...
and I don't think that we will have more growth yet from DYDX, unless the price of 2.78 is broken, I mean the EQUILIBRIUM area..
so we're currently trading in a range which is 2.28 - 2.78...
enjoy trading, trade carefully <3