Long

Eyes on DASH

Updated

DASHBTC could be coming to the end of a long precipitous fall, from which it has historically rebounded explosively, often more than 100% in only a couple days. Long term 3D MACD getting close to turning positive while RSI dipping into oversold territory. Shorter term 12H MACD and RSI showing bullish divergence.

DASHUSDT is also looking overdue for a correction upwards and could fuel a rally in the BTC pair:

DASH is increasingly looking like an indicator of the crypto markets overall. I feel a breakdown of support here would be very ominous. A healthy bounce would signal returning confidence.

Trade active

breakout on 12H RSI and breakdown of bearish flag pattern

Note

correction*: breakdown of bearish pennant, but not necessarily flag formation. up about 4% on the trade but still watching closely.

Trade active

12H MACD just crossed over into positive territory, but rising wedge in RSI is looking a bit scary. price needs to break out of bold trendlines to break any bearish flag pattern. Indicators all have lots of room to run on the 3D chart.

Trade closed: target reached

took profits just below target price one as movement looked ready to slow. planning on buying back in at a local bottom.

Note

finding resistance at 0.786 fib of retracement, also coincides with 0.382 fib of older spine and downwards trendline of falling wedge. 12H MACD now positive, although RSI is very overbought. 3D MACD has crossed over but RSI will soon encounter very longterm trendline resistance. As commented yesterday, I took profits and am watching action here as price hesitates. Will reload on any collective dips, or FOMO back in if DASH plows through resistance.

Note

spine = spike*

Note

a strong move ahead of schedule... i am considering taking some profits now, but i think we still have more upward potential into the mid 60s. watching closely for any signs of reversal.

Trade closed: target reached

took profits at 56. watching for another bottom.

Note

watching for hidden bullish divergence to suggest continuation, but patience is key

Note

oops, i just pasted the wrong chart! will update with DASH in a few...

Note

this is the chart I meant to post, they look very similar. i see possible hidden bullish suggesting potential continuation, although on a longer timeframe there is possible rejection at RSI resistance. again, patience is key to seeing how this will eventually play out, there is no rush to re-enter and try to guess the absolute bottom.

Trade active

bounce looking good

Note

back at major support trendline. slowly re-entering but watching cautiously for breakdown of support.

Note

crazy stinger! not sure what to make of that move, it looks like a liquidation but it took place over the course of several minutes so it was not one order. wish i had been awake to buy up the move at the bottom. i have been waiting to get back in, but now i am hesitant... sometimes after such big sudden moves down, the price will eventually creep to the same bottom over the course of the next few weeks.

Note

Yrat

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.