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DYDXUSDT trade ideas

#DYDXUSDT's Extended Pullback Offers Opportunities💎 Back in January 2023, a significant event took place in the #DYDXUSDT market. The price broke above a seven-month range zone, indicating the emergence of a new long-term trend. However, since then, we have witnessed a consistent decline in price, which can be seen as an extended pullback. Despite this, recent price action in #DYDX presents several signals suggesting that the correction phase may have reached its conclusion. 💎 Firstly, on June 10th, there was a notable bounce off the downtrend trendline, which has been acting as a reliable support level. This bounce signifies the strength of this trendline as a crucial level of price support. Additionally, over the past week, price movement has hovered around the 50% Fibonacci support level at $1.762, where we also witnessed a clean bounce. Maintaining a daily closing price above this Fibonacci support becomes essential for the potential realization of a significant price increase. 💎 The key supply zone for #DYDX lies between the 78.6% and 88.6% Fibonacci retracement levels, offering an enticing upside potential of up to 87% growth. As always, the MCP team will diligently monitor the current support level for a potential breakout. Should the breakout occur, it would invalidate the bullish scenario, and #DYDX is likely to continue its descent, potentially testing the demand zone near $1.3. Stay informed and prepared, Paradisers, as MCP team is committed to providing you with timely updates and valuable insights to assist you in making informed trading decisions. 🌴
Long
by MyCryptoParadise
1
dYdX DYDXUSDT Price Analysis (12h)Analyzing the DYDX price action chart, we can observe a clear downtrend channel with the price currently in the process of rebounding from the resistance line. This indicates a potential opportunity for traders to capitalize on a short-term upward movement. However, it is important to note that before attempting to break out of the downtrend channel, the price might revisit the support zone in the range of 1.60-1.50. This could serve as a crucial test of the market's strength and provide a favorable entry point for buyers looking to ride the potential breakout. 📈 In terms of targets and resistance levels, we have identified a strong barrier at 2.70. This level is likely to attract selling pressure from short-term traders looking to take profits from the recent dips. Therefore, it could be a strategic zone for selling positions and securing gains. 🔍 Keep a close eye on the DYDX price movements as it navigates within the downtrend channel. Happy trading!
by Vestinda
DYDX Final Stages of Accumulation. 17X PotentialTLDR: • DYDX Adheres to an almost perfect Wyckoff accumulation schematic. • I think it’s a good idea to hang on to the coattails of such a Market Maker. • I estimate that DYDX can reach the 1.618 extension, 37$ at the final phase of the bull market. Preface: • Before we proceed, you must understand that in reality assets don’t follow a picture-perfect accumulation schematic. If you read books such as the “Three Skills of Top Trading” and you wish to apply that knowledge, you have to use discernment. If trading was as easy as technically applying an accumulation schematic to a chart, we would all be millionaires. • Having said that, DYDX follows a fairly easy accumulation schematic, and I am reasonably certain it is a possible 17X if you choose to buy and hold until the final stages of the bull market. The DYDX MMs know their business! Phase A, setting the Range, May 2022 – September 2022: • Selling Climax: In June 2022 DYDXs’ markdown phase was over. DYDX made its range low at the 1$ level. • Automatic Rally: After the panic selling was over, DYDX immediately recovered and set the range-high at 2.7$. • Secondary Test: After the recovery, DYDX retested the range-low at 1.107$. Phase B, Consolidation, September 2022 – February 2023: • Phase B is the consolidation period. During the consolidation phase, the MM tests the extremes of the range to gauge the levels of supply and demand for the asset. This phase includes bull and bear traps to shake out the weak hands and take over the supply as much as possible. Phase C, final shakeout, February 2023 until the present. Phase C begins after the Market Maker already took over the lion’s share of the supply and the asset is ready to move away from the range. This phase includes: • The Spring: In this phase, price will perform a sharp move lower, possibly making a lower low. The purpose of the spring is to cause uninformed traders to believe that the market is bearish and sell. Then, the MM moves prices sharply away from the lows. • It is a common conception that this phase has to include a lower low. However, it doesn’t have to be. You should look for a spring failure pattern and a move up towards the range high. • Sign of Strength: Price moves higher with increasing volume to test the range high and possibly beyond. Phase D, Breakout, and retest of the range high as support: • Phase D is yet to come. If I will see that you people are interested, I will update you. Feel free to press boost Price Potential: • I think that in a bull market DYDX can make it to the 1.618 Fibonacci extension easily, hence the 37$ target. Of course, this is long term. NFA. What do you think? Please share in the comments. Best wishes.
Long
by NewThoughtCrypto
DYDX Cup & Handle needs break for Long!KUCOIN:DYDXUSDT BINANCE:DYDXUSDT has crawled over a resistance level. Buyers are lurking around and a possible build up is printed. Plan A - Long: Breakout of build up. Plan B - Short: Breakdown of buildup. CRYPTOCAP:BTC - at major level that needs to break and hold for upside, otherwise downside. CRYPTOCAP:BTC - idea here: tinyurl.com or here: tinyurl.com If you're an aggressive trader, you could potentially already be in. Consolidation is boring but buildups are secrets for pre-moves. Nothing guaranteed and that is why we always manage risk. Let's get it! Always having Plan A and Plan B scenarios so we can react once the markets provide an opportunity to execute our edge. If you liked this idea or if you have your own opinion about it, write in the comments. The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. www.tradingview.com
Long
by imr4nkh8n
new update of DYDXHi guys We made a mistake in the previous analysis and after the publication we corrected the mistake and the target was touched. For DYDX new update, we think you can make almost 30% profit, so don't miss the new position The information provided on this Page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. this page does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisio
Short
by expay24
DYDX – Wick fill Strategy TradeTLDR: • If DYDX returns to fill the wick, or lower, it could be a swing long opportunity. Background: • Since May 2022 DYDX is trading in an accumulation range. Range low is at the 1$ level. Mid-range is at 1.65$ and the range high is at 2.7$. Range trading: • My basic rules of trading a range are: 1. Below the mid-range – Look for long opportunities. 2. Above the 75% of the - Look for shorts. 3. Above the 100% - Possible breakout. Wick fill Strategy: • A wick represents an inefficiency in PA. it is a price range with sellers or buyers only. • Wicks tend to get filled, at least to the 50% level, to compensate for the inefficiency. Trade Idea: • This trade is based on the wick fill strategy. Meaning, that if price returns to fill the wick, it could be a lucrative swing-long opportunity. • Entry: 1.45 • SL: 134 • Target: 2.69 I learned the wick fill strategy from a very known trader and teacher. It pains me that I cannot give him credit. However, TV considers this as promotion/publicity, which is not allowed to non-premium subscribers. You know who you are, Thank you Sensei. NFA What do you think? Please Share in the comments. Best wishes to all.
Long
by NewThoughtCrypto
2
DYDX IDEA! BYBIT:DYDXUSDT.P The same as any other trade i take i wait for the bottoms on the larger timeframes to come in then I scale it down to find an ideal entry. I simply set my take profits and stop losses to their accurate positions in my own opinion then let it roll! I like to keep my charts siting on the 4HR as I judge most of my trades by the 4HR. As for DYDX these recent support levels have been extremely reliable in the last series of bottoms so I am confident I can catch what I need out of this trade. But for now, WE IN THE PATIENCE ZONE! Thank you guys!
Long
by fusfamily
$DYDX- dex narrativeHola , so with binance being messed about with holland now france few countries before that its just a matter of time when folks adapt to DEX's and part of that would be having fiat off ramp and on ramp tie ups this bubba tagged it range low on the W1 so could enter now or wait for another deviation .. even Cz has 1% of his net worth in fiat ... hehe personally i have 40% currently was 0% when i went all in in 2017 and cocked up by adding to at the top ;) live n learn ....
Long
by CompoundingGain