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DYDX/USDT (1D timeframe)
Current Price: ~$0.6256 (+2.24%)
Structure:
Break of Structure (BOS) confirmed.
Change of Character (ChoCH) marked signals a potential trend reversal.
Recent Price Action:
Strong bullish candles indicating momentum shift.
Price has broken above a previous resistance (around $0.57–$0.60 zone).
Price is entering a supply zone (~$0.62–$0.70) – which may act as resistance.
Indicators:
Bollinger Bands widening – indicating increased volatility.
Price is above the midline (SMA20) confirming bullish sentiment.
✅ Entry Levels Suggestion:
📌 Conservative (Pullback Entry):
Entry Range: $0.57 – $0.59
Wait for a retest of the previous resistance turned support.
Look for bullish confirmation (e.g., bullish engulfing, hammer, etc.) on retest.
Lower risk with better R:R.
📌 Aggressive (Breakout Continuation):
Entry Level: Current Price (~$0.625)
Targeting breakout above the supply zone.
Higher risk due to possible pullback or rejection from supply.
Use tight stop loss just below $0.60 or trailing stop.
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🎯 Targets:
TP1: $0.70 (top of supply zone)
TP2: $0.76
TP3: $0.85 (next resistance area)
🛡️ Stop Loss:
Conservative: Below $0.55
Aggressive: Below $0.60
📈 Summary:
Trend: Turning bullish with BOS & ChoCH confirmation.
Best Entry: Around $0.57–$0.59 on pullback.
Aggressive Entry: Now, but higher risk near supply zone.