DYDX is bouncing

Oct 3, 2022

DYDX is decentralized exchange's crypto, a promising one.

It was in a descending channel and touched the ATL in mid June. After making a 170% recovery, it continued to go down to be close to the previous ATL.

In my opinion, now it is a good opportunity to buy DYDX for both mid term (a few months) and long term investment. For the longterm hold, I'll post another analysis to explain my point.

For mid-term, we see some bullish signs

• Inverted hammer (with relatively low volume)
  
• Bullish divergence
  
• Prices at strong support (ATL area)
  

We will need more volume the next days to confirm a strong reversal.

Oct 4, 2022

Note

Target: $2.5
Invalidation: $0.98

Oct 11, 2022

Note

DYDX still manages to go up despites the poor performance of BTC and majors cryptos.

Oct 13, 2022

Note

DYDX has increased 18% since entry. For short and mid-term trade, one should book (partial or total) profit here because prices are right below the strong resistance, EMA 50D.

We should be ready for the next movement of market which would be a big one.

Oct 13, 2022

Note

DYDX is leading the recovery of the market after being dumped before CPI.

Oct 14, 2022

Note

25% of profit since entry. Partially booked.
DYDX has broken the strong resistance EMA 50D yesterday with high volume. The uptrend continues in short-term. We need to keep an eye on BTC and SP500.

Oct 26, 2022

Note

DYDX's moves are quite solide.
30% up so far from entry.

Nov 4, 2022

Note

50% of profit
Half way done.

Nov 13, 2022

Note

All targets have been reached. 100% up since entry.
DEX, like DYDX, are getting attention since recent problems of CEX (FTX, ...)

Nov 13, 2022

Trade closed: target reached