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DYDX/USDT 4H
Chart Analysis Summary
Current Price: ~0.6047 USDT
Trend: Recently broke structure (CHoCH), showing a bullish move.
Indicators:
Break of structure (BOS) confirmed near ~0.5400 USDT.
Price is above the 20 SMA and testing previous supply.
Price is at a key resistance (upper bound of CHoCH zone).
Zones:
Demand (Support): 0.5400–0.5600 USDT
Supply (Resistance): 0.6400–0.6800 USDT
Descending trendline: Still valid, but currently being tested.
✅ Trade Setup: Long Position
Entry Zone:
Ideal Entry: Around 0.5900–0.6050 USDT
Currently testing resistance, wait for slight pullback or confirmation candle above 0.6100.
Stop Loss (SL)
Below the recent demand zone:
SL: 0.5600 USDT
(Tighter SL if aggressive: 0.5750)
Take Profit (TP)
Use nearby resistance/supply zones for TP levels:
TP1: 0.6400 (first supply zone)
TP2: 0.6800 (next strong supply zone)
TP3 (extended): 0.7500 (strong high)