DSHBTC trade ideas
Dash or crashokay i find this one a little tough to project on just yet. however i think we can make some short term assessments based on the support lines we have had. if we look back over the past days we can see a discernible top line. the bottom line is harder to pin point on this one as the fluctuation have been all over the place. I do think if the current trend line holds that we could see an upturn in the near future. CCI and VWAP both are starting to trend in the right direction. My concern though is the lack of support on the bottom of the triangle drawn. If the course follows this line we should seen an upturn in the near future. given how hard some of the resistance has been This one could be tricky to project.
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DASH/ BTC - Looking at 2 hour timeframe, as indicated a good volume and possible pull up shows on the RSI after the ovebought. If I place a trade now, I could actually enter at 0.540sat and exit at;
Short;
0.064sat (tentatively at March 07)
Long;
0.075 (possible maybe at March 15-18)
Disclaimer; Please be reminded that ALL information provided above is all tentatively and no assurance. NOT an Investment advise and only intended for educational purposes. DO YOUR OWN RESEARCH...
Dash may be moving lower - sell and buy back more for holders. For those that have look at any of my past analysis, I like to use simple trend analysis, support/resistance to draw conclusions. I find that the more convoluted your indicators, the more confusing the entries and exits become. Plus trading is a process of mastery that requires thousands of hours dedication - if you're constantly looking at complex drawings, it's harder to get REALLY good at the simple stuff.
Anyway, with DASH, I wrongly called a short back at 0.068 a couple of weeks back, but it went higher. I wish I hadn't closed that short trade because it proved correct after all. Now, it seems like DASH is setting up for a continuation of a bearish move. I'll be trading this one on my main account and trying to make a little profit on the way down.
DYOR.
DASH support broken but price might come backDash broke its support level against BTC as it slides down. Although it didn't took a strong beat but a comeback is possible for DASH.
Moving Averages is likely to cross soon and RSI is low, if this pulls a bull signal i'm expecting 10%-30% increase in price.
Although MACD is pointing downwards and the support is broken a nice pull back due to MA crossing with RSI almost oversold looks a good buy.
Note : Trade at own risk, a lesser price movement due to MA crossing would likely mean a further fall
BTC : 13dB8bdNwNmYdNem5KhnCGb1S9iM1ZNgZV
LTC : LcWFNjq8n1rgAkf5ZcgiHs8fcRXqb5tfxW
DOGE : D7mUH48M5SN5vi3R2p5RzWPpyypkRjeCE6
DASH/BTCDash has recently been experiencing some crazy price movement. In the past few weeks, the highs and lows were due to extremely long wicks of the candlesticks. These swings in price are usually a good time to expect the price to retrace back to these levels in a more consistent manner. A few days ago, the price began its decline, following along a trendline quite well until this morning. The price did close slightly above the trendline and created a long upper wick like before. Although, the prices never reached a price above the EMA(20) even on the highs of the candlesticks. Along with the current trend, this leads me to believe that the EMA(20) is being used as a pretty good resistance level right now. If this level is broken, along with the resistance level of 0.064936, I expect the price to continue in the bullish direction due to the indication of a solid bullish reversal. In the past, this 61.8% fib retracement has not been very reliable in terms of creating reversals. An indication of a bearish target is present in the case of this level causing a reversal anyway. Even though the recent bullish candlestick closed above the trendline, if the price creates a reliable bearish candlestick when closing at this period I would still consider this trendline accurate and expect more bearish movement before the actual breakout. The RSI is still relatively low, although, it has been following price action quite well so there is not much that can be told from it aside from the fact that it was oversold last night and a breakout now is possible.
Important Resistance Levels: 0.067250, 0.064936
Important Support Levels: 0.062534, 0.060676
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Written by:
Arham Bheda
Senior Research Analyst