Long Entry at Channel Bottom for dYdX
Greetings, Snipers!
In the shorter time frame, we can trade this channel:
We can take a long-entry now, at $1.00 - $1.10, and sell at $2.30 for a Risk-Reward ratio >5 (SL at $0.84).
Please be mindful that Bitcoin is on the verge of breakout of its continuation pattern to the downside, so manage your risks well!
Happy Sniping!
- DYDX has dropped >95% since its peak in 2021
- DYDX is currently at the bottom of its channel range at $1.00-$1.20, with previous strong retracements
- This may draw a potential sideway channel or a triple bottom pattern
- The $1.00 level is expected to be a strong psychological support
- $2.30 - $2.70 have posed to be a strong resistance level
In the shorter time frame, we can trade this channel:
We can take a long-entry now, at $1.00 - $1.10, and sell at $2.30 for a Risk-Reward ratio >5 (SL at $0.84).
Please be mindful that Bitcoin is on the verge of breakout of its continuation pattern to the downside, so manage your risks well!
Happy Sniping!
Trading ditutup: target tercapai
Sniped!We hit the target in less than 1 month.
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.