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MyCryptoParadise_Nathan
Aug 17, 2023 6:00 PM

DYDX/USDT Chart Analysis: Bearish Setup with Potential DownsideΒ Short

DYDX / TetherUSBinance

Description

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πŸ’Ž Paradisers, cast your eyes on DYDX/USDT. The daily chart reveals an 'M' pattern emerging within the supply zone, amplifying the chances of a bearish shift. Adding to this, the supportive trendline has been breached.

πŸ’Ž For a clearer bearish confirmation, watch out for a descent below the 1.915 demand level. If this occur, we might be looking at potential descents to 1.763 and perhaps even 1.506. However, for those with a bullish perspective, a climb above the 2.274 supply zone would be the signal to watch.


πŸ’ŽStay sharp and chart-smart, ParadiseSquad!
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