Excellent falling wedge pattern on DYDX/Will we see upmove here?

10 thg 12, 2023

Hey Traders

-Today we will look at DYDX/USDT chart which looks really good in my opinion...
-The price has created a nice falling wedge pattern just like from the books and there could be potential move up right to latest high

-We are looking on 12h TF and the price is sitting on GOLDEN POCKET ZONE from fibbo which is from 2.128 to 4.379 and also the 100MA is holding the price

-Its even better on 1D TF where the price is supported by 50MA/EMA

One thing to notice
-In Falling wedge pattern, the double bottom pattern is possible. When we break the neckline
and retest it, we can see double confirmation...
https://www.tradingview.com/x/bPmBv0IV/

I will keep you updated...

This is for DYDX/USDT analysis, thank you for your attention!!!

Good luck traders!

11 thg 12, 2023

Ghi chú

The BTC started correction and it affected most of the altcoins, DYDX as well but it is still not bad for dydx since the price is in our zone...
There is bullish divergence forming on 4h TF and I want see bullish action and wait for next Daily candle...