Analyzing the market structure of DYDX (based on the 12h timeframe), its clear that DYDX is still very bullish and the price decline we've been encountering since, is only but a retracement to an old price range. The break of STRUCTURE (BOS) of the old high clearly shows we're still bullish!!
Before the first rally to the buyside direction of the marketplace, price mitigated a bullish mitigation block leaving behind a bullish propulsion block. Now, price is in the bullish propulsion block!
When a bullish orderblock is mitigated, it leads to a fine rally to take out the nearest external range liquidity and I believe that in the coming days, DYDX will do that!
We're about to see a new ATH (All Time High) on DYDX! This is the best time to bag some DYDX and let the marketplace do its job!
Before the first rally to the buyside direction of the marketplace, price mitigated a bullish mitigation block leaving behind a bullish propulsion block. Now, price is in the bullish propulsion block!
When a bullish orderblock is mitigated, it leads to a fine rally to take out the nearest external range liquidity and I believe that in the coming days, DYDX will do that!
We're about to see a new ATH (All Time High) on DYDX! This is the best time to bag some DYDX and let the marketplace do its job!