DASH / BTC - an expected breakthrough but to where?
Updated
I've been monitoring Dash the past weeks and I see a huge potential, especially as it seems a bit left off from the rest of the alt rally that we have been witnessing.
The diagram shows a very weird progression since the last impulse and I've been pondering where the fuck to place the abc correction so there are 2 possibilities in the short term:
1. Either we have set the C wave and we should expect an upwards impulse or
2. We are in the C wave now and after it finishes above the start of A wave, we would have a down impulse to set the bigger C wave from where we should shoot up.
So either way, I had entered previously at about 75k btc and will ride to the circled zone from where we should scrutinize the price action and determine whether we continue up or go down to complete C wave.
External factors:
BTC/ SPX correlation seems to have cooled off and BTC is a big boy again doing its own thing but still - I am short Nasdaq for a while which means that the overall market may tank, if it takes BTC with it, confidence in alts could go away and we will go in the red. So keep it a quick trade with a bit more looking after the position.
The diagram shows a very weird progression since the last impulse and I've been pondering where the fuck to place the abc correction so there are 2 possibilities in the short term:
1. Either we have set the C wave and we should expect an upwards impulse or
2. We are in the C wave now and after it finishes above the start of A wave, we would have a down impulse to set the bigger C wave from where we should shoot up.
So either way, I had entered previously at about 75k btc and will ride to the circled zone from where we should scrutinize the price action and determine whether we continue up or go down to complete C wave.
External factors:
BTC/ SPX correlation seems to have cooled off and BTC is a big boy again doing its own thing but still - I am short Nasdaq for a while which means that the overall market may tank, if it takes BTC with it, confidence in alts could go away and we will go in the red. So keep it a quick trade with a bit more looking after the position.
Note
Ok, a bit more violent wave C down, but this should complete pattern and move up now. Just waiting for overall confidence and interest to flow back to altcoins from btc recent moves;
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