#DYDX ANALYSIS (2 WAYS)
DYDX is on a downtrend forming a descending channel on a daily timeframe, it is yet to make a new low neither is there any divergence on the indicator for reversal.
The purple line also shows us that it breakout and retests hence reversal. Overall..., BULLISH
However, the Stochastic RSI is at oversold region signaling buy.
You can bag some at the support level and set a tight stop loss below it or wait for a divergence to occur.
DYDX is on a downtrend forming a descending channel on a daily timeframe, it is yet to make a new low neither is there any divergence on the indicator for reversal.
The purple line also shows us that it breakout and retests hence reversal. Overall..., BULLISH
However, the Stochastic RSI is at oversold region signaling buy.
You can bag some at the support level and set a tight stop loss below it or wait for a divergence to occur.