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VectorAlgo
Feb 8, 2024 7:32 PM

DYDX offers an impressive profit potential of +850% Long

DYDX / TetherUSBinance

Description

The BINANCE:DYDXUSDT pair is exhibiting a notable resurgence from its support zone, indicating a prevailing bullish sentiment. While a minor correction remains a possibility, its likelihood appears diminished. Nevertheless, it's prudent to maintain a Dollar-Cost Averaging (DCA) strategy, with a focus on a threshold of 2.0 in the event of a price reversal.

Should the current upward trajectory persist, the forthcoming resistance level is approximately $5.00.

Entry Price: Presently hovering around $2.79, with additional DCA consideration at $2.00.

Targets:
1. $3.50
2. $4.45
3. $8.56
4. $11.87
5. $14.76
6. $26.68

Stop Loss: $1.76

This trade presents a favorable opportunity, boasting significant profit potential.

Best regards,

Comment

Price is consolidating

Comment

Price bounced back from the support, this is a good price action for the bullish trend.

Comment

Target 1 reached. +35% profit without any leverage.
Comments
MyCryptoParadise_Nathan
Your insights are always appreciated.
blank2075
why it not going above 3.2 what it issue ....is it gonna crash now
VectorAlgo
@blank2075 it's weekly chart. takes time
blank2075
@VectorAlgo, it should have gone above 3.2 and hover near 4 dollar.....
enablest1
@blank2075, 1.7 very soon for this shit
VectorAlgo
patience and risk management is the key to successful trading.
slight drop in one trade should not affect the overall portfolio of a trader.
VectorAlgo
it's gonna take 10-15 weeks for the full trade in the weekly chart.
blank2075
@VectorAlgo, 10 15 weeks for even 4.45?
VectorAlgo
@blank2075, no, its for the full trade.
For 4.45 we can expect it in next one or two week.
blank2075
@VectorAlgo, 2 weeks.... i thought it was supposed to be this week...amount of funding fees i have paid
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