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Let's analyze a very technical asset #DYDX🔔
🗣 The asset has been moving in a sideway between the local support level of $1.950 and the local resistance level of $2.40 for a long time. Price has formed 2 trading channels while moving in this sidewall, and is now forming 3. This sidewall is a model of re-accumulation. That is, the big player redistributes and completes his positions.
📌 In the near future, I will have a small corrective movement and continuation of growth with the formation of an upward trading channel
🔜I plan to enter the trade from the current (1.98$-2.04$).
🛑 Stop loss will be at (1.85$)
✅ First take (2.210$)
✅ Second takeout (2.435$)
When the first take is reached, stop loss should be replaced to the entry price. Reaching the second take will be 19% of net movement
