$DYDX /USDT: Short squeeze coming?
After a strong pump to $0.2449 and the subsequent rapid decline, the price of DYDX is stuck in a consolidation around $0.1350 - $0.1410. Despite the local bearish trend, the metrics hint at the market's readiness for a local rebound.
📊 Key factors:
Negative funding (-0.04214%): There is a strong advantage of shorts in the market. They pay longs, which often serves as fuel for short squeezes.
Liquidity clearing: Open interest (OI) decreased from 80M to 59M - margin longs have already been "shaved", the market has unloaded.
Magnets above: Huge pools of short liquidation are waiting at the levels of $0.1650, $0.1720 and $0.1870.
📈 Trading setup (Long)
➡️ Entry: $0.1360 – $0.1400 (current prices with limits for picking)
🎯 Targets (Takes): $0.1470 ➡️ $0.1550 ➡️ $0.1650
🚫 Stop loss: $0.1290 (under the local bottom)
⚠️ It is dangerous to enter a short from the current one due to the risk of a sharp upward impulse. If you look for a short, then higher - after the withdrawal of liquidity in the area of $0.1650+.
After a strong pump to $0.2449 and the subsequent rapid decline, the price of DYDX is stuck in a consolidation around $0.1350 - $0.1410. Despite the local bearish trend, the metrics hint at the market's readiness for a local rebound.
📊 Key factors:
Negative funding (-0.04214%): There is a strong advantage of shorts in the market. They pay longs, which often serves as fuel for short squeezes.
Liquidity clearing: Open interest (OI) decreased from 80M to 59M - margin longs have already been "shaved", the market has unloaded.
Magnets above: Huge pools of short liquidation are waiting at the levels of $0.1650, $0.1720 and $0.1870.
📈 Trading setup (Long)
➡️ Entry: $0.1360 – $0.1400 (current prices with limits for picking)
🎯 Targets (Takes): $0.1470 ➡️ $0.1550 ➡️ $0.1650
🚫 Stop loss: $0.1290 (under the local bottom)
⚠️ It is dangerous to enter a short from the current one due to the risk of a sharp upward impulse. If you look for a short, then higher - after the withdrawal of liquidity in the area of $0.1650+.