DASH - Dash to Cash or Cash to Dash?
Updated
Well it appears that we have weeded out the weak hands, and are ready to run with the bulls this morning correct? I mean nothing like waking up and seeing the market on an upswing, accounts popping so let's throw in some more cash as we might miss the next run right? No! I'm not so sure the bears have gone back into hibernation just yet. We may want to make a Dash for Cash! No, we don't want to do that either, but we do want to get ready for the fire sale, and be prepared if it doesn't come. Wave 4 corrections are difficult and can be down right frustrating to nail correct. This is not an area I am going to trade with much weight. I am sticking with my core position, knowing regardless of the outcome $500-$550 is the next level. This is where patience and diligence pays off if you stick to your plan is. My overall plan is to hold these for several years. I don't want to be out in any run, as time has shown, that missing one single run can result in 40-60% reduction in returns over time. This is crucial to understand! So let me explain to you younger investors.
Many try and time the markets. However, if if you put your money in the stock market and just held from 1995-2014, (through two very large corrections) you would have had an annual return of 10%. Not bad. If you missed the best 10 DAYS in those 20 YEARS, your returns were cut almost in half to 6%. 20 best days? 3.5%, GET THE POINT! We know one thing, the market is headed up, and we must keep that in mind when we are investing. Trading is a different animal, but as I have recommended often, I have core positions I do NOT sell unless something fundamentally has changed. News on China is not a fundamental change. You must separate Core investments, from Coins you trade. If you have under 5k, I do not recommend trading, or just with a small amount to practice. I mean less than $500. Your new to markets in general, and you need to swim in the shallow water first. Fortunes have been made with $5,000. Ed Seykota is one of them. Turned $5,000 into 16 million over 16 years. You do not want to get to 55 and go, "only if I just invested and held", Do not miss the forest for the trees young investors. Time and compound interest is on your side! Ok enough grandpa speak, onto the chart.
Dash has finished the midterm and short term wave 5's, and a longerterm wave III. This is very much in line with BTC which has in the exact same cycle. We should expect a similar outcome then as well. I have made a comparison of 4 of my top 6 holdings, and you can see over the past month they are trading like we would expect, in unison. Other Analysts are mixed. Some are calling for a further pullback, some calling for a breakout. So I look at the chart and see we have broken through the negative trend channel. This is why I caution going short right now. We could get a retest of the channel and Dash make a run for $500 plus. This is possible. However I am more inclined that the most likely outcome is DASH will follow BTC and correct to the 0.618 fibb retracement of wave III. Keep in mind EW and Fibb are not crystal balls, but they do provide an idea for likely outcomes, and as many have seen is right more often then wrong. However, we must be prepared for either. A break of $375 (level (b)) would lead me to believe that the correction is over and a signal would be a retest of the channel, and break to the upside. If we break back down into the channel then 0.618 becomes much more likely are target where we may want to add a few coins.
I want to thank everyone for their input and comments. As a whole we can work together to make money, everyone has something to offer. I have been given great coins to research on several recommendations and I do research them all even if I don't post. I am new to the cryptos so I do not have the background that many of you do. So please share ideas and together we can make some money!
Many try and time the markets. However, if if you put your money in the stock market and just held from 1995-2014, (through two very large corrections) you would have had an annual return of 10%. Not bad. If you missed the best 10 DAYS in those 20 YEARS, your returns were cut almost in half to 6%. 20 best days? 3.5%, GET THE POINT! We know one thing, the market is headed up, and we must keep that in mind when we are investing. Trading is a different animal, but as I have recommended often, I have core positions I do NOT sell unless something fundamentally has changed. News on China is not a fundamental change. You must separate Core investments, from Coins you trade. If you have under 5k, I do not recommend trading, or just with a small amount to practice. I mean less than $500. Your new to markets in general, and you need to swim in the shallow water first. Fortunes have been made with $5,000. Ed Seykota is one of them. Turned $5,000 into 16 million over 16 years. You do not want to get to 55 and go, "only if I just invested and held", Do not miss the forest for the trees young investors. Time and compound interest is on your side! Ok enough grandpa speak, onto the chart.
Dash has finished the midterm and short term wave 5's, and a longerterm wave III. This is very much in line with BTC which has in the exact same cycle. We should expect a similar outcome then as well. I have made a comparison of 4 of my top 6 holdings, and you can see over the past month they are trading like we would expect, in unison. Other Analysts are mixed. Some are calling for a further pullback, some calling for a breakout. So I look at the chart and see we have broken through the negative trend channel. This is why I caution going short right now. We could get a retest of the channel and Dash make a run for $500 plus. This is possible. However I am more inclined that the most likely outcome is DASH will follow BTC and correct to the 0.618 fibb retracement of wave III. Keep in mind EW and Fibb are not crystal balls, but they do provide an idea for likely outcomes, and as many have seen is right more often then wrong. However, we must be prepared for either. A break of $375 (level (b)) would lead me to believe that the correction is over and a signal would be a retest of the channel, and break to the upside. If we break back down into the channel then 0.618 becomes much more likely are target where we may want to add a few coins.
I want to thank everyone for their input and comments. As a whole we can work together to make money, everyone has something to offer. I have been given great coins to research on several recommendations and I do research them all even if I don't post. I am new to the cryptos so I do not have the background that many of you do. So please share ideas and together we can make some money!
Note
I took a closer look at DASH to see if maybe I was missing something and wanted to update the chart with this one. Sometimes you are looking at a small window frame and lose sight of the big picture. Many "feel" it can go up from here, but the lower trend line shows that we have been so bullish above the long term trend that a pullback is quite possible. Many trade blindly, ohh it's going up, ohh it's turning down. When it's important to see what the charts provide as probable outcomes. this is not what I think or feel but what the chart is telling us!Note
Yes there are other trend lines but this one is the longer of the time frames that is rising or in the bullish pattern. This is not my prediction, this is what the chart tells us is a probability!Note
It is also in line with our BTC chart HMMMMMMM! Patterns are there you can chose to ignore or chost to be aware!Note
It does not get much clearer than this!Note
I want to disclose as I posted yesterday in the comment section of the BTC article that I have gone long DASH. I will update later this afternoon. As I said in the comment section this is not a signal for everyone to buy, but to be aware of the chart and take a look at the trend and reversal points.Note
I updated and replaced this article with a new one. Corrected the mistake on the count as well.thanks
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