$DYDX is squeezing higher after reclaiming the 0.1540 resistance zone and printing a clean sequence of higher highs and higher lows. Instead of rejecting at 0.1665, price is holding near the highs, which usually tells me buyers aren't rushing to take profits and are still absorbing supply.
Setup:
Entry: 0.1635 – 0.1655
Target 1: 0.1700
Target 2: 0.1760
Target 3: 0.1840
Stop-loss: 0.1585
RSI is around 64, which is constructive rather than overheated. That's one reason this setup still looks attractive. If 0.1665 breaks with convincing volume, I'd expect momentum traders to step in and push price into the next resistance zone. As long as 0.1580–0.1600 is defended, the bulls remain in control.
Trade #DYDX here
$RE $TAC
Setup:
Entry: 0.1635 – 0.1655
Target 1: 0.1700
Target 2: 0.1760
Target 3: 0.1840
Stop-loss: 0.1585
RSI is around 64, which is constructive rather than overheated. That's one reason this setup still looks attractive. If 0.1665 breaks with convincing volume, I'd expect momentum traders to step in and push price into the next resistance zone. As long as 0.1580–0.1600 is defended, the bulls remain in control.
Trade #DYDX here
$RE $TAC