DSHBTC trade ideas
Dash VS Bitcoin CyclesSince April 2017, Dash has been ranging between btc 0.04 and 0.08 areas. The consolidation continues to this day without any clarity on further direction.
According to cycles, the price should have produced a wave down since February, but it has stuck near the btc 0.06. DASH/BTC has attempted to break below the 200 Moving Average but yet, it only producing spikes lower. The btc 0.055 area remains the support and the next wave according to the cycles could be up.
If the support will not be broken, Dash should be moving upwards towards btc 0.08-0.1 area, and only btc 0.1 breakouts could confirm the long-term uptrend.
DASH/BTC - BUY ZONE, SELL ZONE, SUPPORTTake a look at EMA55 & EMA200 crossover, Fib retracement levels, RSI oversold (1st time since March 29th), MACD divergence channel/trend, ascending triangle formation, etc...
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only. it should not be considered financial advice***
DASH/DSHBTCIn day chart we see big triangle and in lower triangle line we also have strong level and Fibo level (78,6%) , and it is a big chance to have a growth (when I wrote it , its began) .
In hour chart we have a smaller triangle. And I think we will break it up and go forward.
BUY
NOW
SELL
0.56
Stop
0.492
DASH - trianglesHigh traded volume for DASH at the lower price levels recently between 43k and 50k sats. Price has settled on the 23.6 fib of the big down move (which incidentally coincides with the 61.8 fib of the much longer term up move shown on the bittrex chart). RSI and ADX show the price is still ranging.
On the close up we see we are coming to few possible decision point triangles, the MACD has just crossed (bullish), the short EMA (7) has crossed the medium (77) and the price seems to be supported by the medium at present (bullish). The price is wicking off the lower short term trend line showing buyers' support here, however so far the price isn't being pushed as strongly upward to the upper trend line as I like, with most of the action to the bottom of the triangle and seemingly strong resistance around the current price area (although the current/next candle may change this!)
There are buy walls in the order books for both bittrex and binance at around 52.5k sats which may pose a risk to positions right now.
While I like the chart and the growth in traded volume, I would take care in getting into a position on this because of those walls, keep watch to see if the price breaks up from the triangle with an increase in volume, and perhaps wait for a retest of the triangle trend line for confirmation of the breakout before buying.
The fibs line up well with prior support and resistance prices, and can be used as take profit targets if the break out happens.
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What to expect with DASH, 10-15% Short Term ProfitDASH on the 4hr chart is looking to break out of a triangle
RSI shows that we are undersold at a line of support, great!
Selling pressure flattening out and we can expect 2 possible outcomes.
I don't trade with a stoploss but if you're strict you can cut it off if a candle were to close below the red line. It is likely though that if this chart were to fail, a retest would occur and you could sell for no loss/small profit. That is why a stoploss is generally not necessary with my strategy.
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DASH ladder buy zones and targets we're looking forDash currently trading below 0.786 Fibonacci Retracement from 20th December highs to April 1st lows and price is on 200 SMA line, maybe good to buy? Will see.
Hidden bullish divergence on 4h RSI, volume declining a bit.
We're interested in laddering our buy-ins to get as good price as possible.
BUY LADDER:
0.05148
0.04951
0.04771
SELL TARGET:
0.06119
0.06819
0.07449
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DASH vs BTC - DASH reaches a critical decision point!!Hi all, today we will have a look at DASH vs BTC on the daily log chart!
As you can see, since the highs in December we have been trading within the dashed down trend channel. On the 22nd and 23rd of April we tested the upside of the channel and managed to pierce through it; however volume was not enough and as we also had the EMA 200 to attend with directly above the channel - the resistance in this area was just too strong. This has sent us back down lower for a retest of the 50 EMA (which provided us with good support back on 21st and 22nd of April; and has subsequently held as support again).
Of particular note, is that we are currently in a smaller dotted uptrend channel within the larger downtrend channel, which has also acted as support thus far. Looking at the RSI; although we have wavered slightly over the past few days, we have momentum building to the upside albeit not a lot of room left until we are oversold. The MACD is trending above the signal line and we can see some bullish momentum building here, which is a positive sign. Aroon Up is well above 50 (80.7) and Aroon Down is almost flat to the floor (2.5) indicating bulls have the edge here.
So what is going to happen next? We have basically have two scenarios unfolding and are at a critical and pivotal point. A break to the down side of the dotted uptrend channel will likely send us down to the green dashed support line. This is because if this scenario occurs it places us within a potential descending triangle which could ultimately send us lower, perhaps for a retest of the solid light green support zone which is very likely to hold. From here it is back for a test of the down trend channel for another break out attempt. I stress however, that this is the worst case scenario!
If we can however breakout of the long term down trend channel by tomorrows close at the latest (which momentum is suggesting we can); as well as break through the 200 EMA then we will have some serious new support here. This isn’t going to be easy and requires some serious volume to get us through this overhead resistance.
In terms of trading, I am waiting for a confirmation over the next two days as to which way this thing goes. If we can get the volume we need and break out of the long term downtrend channel and above the 200 EMA – then this is an excellent buy zone. We may go into a short period of consolidation after being exhausted during the break through, but we will have the down trend channel as new support and a bounce off here sees no real resistance until the 61.8% retrace. To be safe you could set stepped sell orders between the 50 and 61.8 fib levels for a decent profit from the buy zone.
On the flip side if we break to the down side of the smaller uptrend channel we are in, then I would be looking to see if the dark green dashed support line holds and a solid bounce off here could provide another breakout attempt through the top of the down trend channel. If this occurs then I would be placing a buy order on confirmation of the breakout. In this scenario, if the downtrend channel continues to provide resistance and the descending triangle actually forms, then we are likely to drop all the back down to the solid support zone before placing a buy order. Note: This is the worst case scenario that could possibly occur!
In summary I am 85% bullish that we can get the required momentum at least break through the top of the downtrend channel and confirm it as support, placing us within the buy zone.
As always DYOR and happy trading!
Cheers
Can Dash (DASH) Take Over Tron (TRX) To Reclaim Its Spot?Dash (DASH) which used to be the 11th largest coin by market for a long time has now ceded that spot to Tron (TRX) which at the moment in the new darling of the crypto market. Dash (DASH) with its market cap of $3.7 Billion appears to be in need of a small push to take back its spot from Tron (TRX), the present 11th largest coin with a market cap of $4.5 Billion. However, the dynamics of the market have changed significantly over the past few weeks as Tron (TRX) has evolved into more than just another altcoin. It has become a direct Ethereum competitor and looks ready to enter the top 10 list. A thorough analysis of the top 10 coins shows that almost all of them are impressive projects with a lot more potential than Dash (Dash) as of right now.
Read Full Analysis Here: cryptodaily.co.uk