DYDXUSDT Triple Bottom!

31 Jan 2023

What is the triple bottom?
The triple-bottom reversal pattern has three roughly equal lows and indicates an opportunity to take a bullish position. Before the triple bottom occurs, the bears are usually in control of the market, forming a prolonged downtrend. The first bottom does not indicate anything out of the ordinary. Still, the second and third bottoms show a change in direction where buyers (bulls) may push the price action higher after the price breaks through the resistance.

Dydx is currently trading at 2.89

The DYDXUSDT has broken its triple bottom resistance line after 8 months of ranging market, indicating a strong bullish sentiment. and you can see high trading volume in the daily chart, expecting a potential up move.

Thanks
Hexa