Dash - It could be a fast and dramatic price rise
Dash has taken a beating since the market went into decline. Dash is one of my favorites, and I've owned some Dash since it was $2. Frankly I wish I had held onto all I had back then, but you take profits and you make other trades as well. Dash is very solid coin with top notch technology, a stellar management and coding team and a realistic business plan. I believe Dash is the best run coin on the market.
For Most People: buying and holding Dash at this point is a very wise move. It can easily run up to $1500 again and I think much higher in the long run.
ForTraders:, I see Dash coming off the lower Bollinger Band at the lower line of a price triangle, and showing potential to break out of the declining price line that forms the upper line of the triangle. The RSI is also giving encouragement.
So for trade, I'm looking at an entry point about $600 and the 0.237 area of the Fibonacci line, with the added condition that a day candle closes above the 0.237 line. A good stop loss looks to me line any point the the price should decline to tough the descending price line of the triangle or it's extension.
I see little resistance until the Fibonacci line at 0.618 or $1081 once this trend starts and I would start taking profits at that area. Stronger resistance is at $1175.00 and I would very inclined to close the trade there unless other indications warrant keeping it open.
All statements and expressions I offer are my opinions, and not meant as investment advice or solicitation. Information provided is not personal investment advice. Most importantly, do not invest money you cannot afford to lose.
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