DYDX is bouncing

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.

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Target: $2.5
Invalidation: $0.98

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

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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.

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

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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.

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

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50% of profit
Half way done.

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

Сделка закрыта: достигнута тейк-профит цена