DYDXUSDT 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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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.
Do not forget to give your likes. Your likes is the fuel that keep me going.
Thanks
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Price finally breakout from the main setup, this means we are in for bigger move, keep holding and enjoy your profit.
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📢Follow the official links only! Trade smart, stay safe! 🎯
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
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.