Let`s try DYDX

Its interesting situation on DYDX chart.

In one hand we have an overheated indicators on 4H, daily, 3D and weekly timeframes, such as bear divergence on RSI, overheated momentum on Stochastick, BB squeeze and other.

And its crazy idea to go long in such conditions, considering that now is end of week.

but what the hell, yeah? Get back 2017 in crypto :)

First, look on weekly MACD — we see huge buy volume on big time interval at a low price.

DYDX has a key level at 3 USDT — this is the price of opening dydx trading, and as you can see on chart this level was broken in May and after that dydx begin consolidating in a rising channel.

In case of reclaim 3 USDT DYDX going hard, first strong resistance in this scenario — weekly MA50 — 5.2 USDT, next targets/resistance you can see on Fibo.

In case of correction/falling down support levels is mid of channel — 1.9 USDT, daily MA50 — 1.6 USDT and bottom line of channel — 1.2-1.0 USDT.

And, once again, this is high risk/high reward trade.