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)