$DYDX — consolidation may set up a breakout
For $DYDX , a continuation scenario is being considered following an upward impulse and an ABC correction. One possible path is gradual consolidation toward resistance, followed by an attempt to break above it.
Confirmation would come from holding the breakout area on a pullback. Then, movement toward the next higher zone could be assessed. A quick return below resistance, by contrast, would weaken the bullish outlook.
Until the breakout is confirmed, it is reasonable to view the rise as part of a recovery move. Being close to the level does not in itself mean that sellers have already yielded it to buyers.
For $DYDX , a continuation scenario is being considered following an upward impulse and an ABC correction. One possible path is gradual consolidation toward resistance, followed by an attempt to break above it.
Confirmation would come from holding the breakout area on a pullback. Then, movement toward the next higher zone could be assessed. A quick return below resistance, by contrast, would weaken the bullish outlook.
Until the breakout is confirmed, it is reasonable to view the rise as part of a recovery move. Being close to the level does not in itself mean that sellers have already yielded it to buyers.