DASH Shows Us Incredible Strength!!
Updated
Overall, DASH' has shown us as a pretty strong coin. The drops aren't so deep and the recoveries are faster and higher!
Currently, we have two triangles, one is bigger (blue trendlines ) and one is smaller (orange). Over the weekend, DASH' has made a breakout from the smaller triangle and it found a resistance from the round number at $200. At the moment it has started to make a throwback, the throwback is healthy if we find a support from the orange triangle upper trendline. The trendline is supported with several EMA's (50, 100, 200) which all starts to work as supports. Actually, at the moment, this is a pretty rear case that DASH' trades above the all important EMA's on the four-hour chart it is a very strong statement!
If the whole market starts to show us some positive signs then this retest area would be a perfect spot to invest into the DASH' but You have to watch what BTC' does, currently it 'sitting' on the "Descending Triangle" and we are ready to make a breakout from either direction so, the current market situation is a bit risky because we have mixed signs!
If the bounce happens then again we bounce upwards to the round number level and overall this is a pretty strong level to beat. Why? Because:
1. $200 round number works as a resistance
2. July low works as a resistance
3. The trendline since 20.07.2018 works as a resistance
So, a pretty tough level but if we manage to break upwards then the triangle pattern shows us that the next nearest target would be the next 'round number' $250 and definitely we reach there because DASH' has shown almost incredible strength compared to other top altcoins!
...and to give You a bearish view/confirmation, it is simple - at least a four-hour candle close below both triangles will guide us to the lower levels, so watch out if the price reaches into this area (around $175-$180)
Hopefully, those levels and this analysis helped You out a little bit to confirm Your own analysis!
Please, don't forget to hit the LIKE button to support us!
Best regards!
Currently, we have two triangles, one is bigger (blue trendlines ) and one is smaller (orange). Over the weekend, DASH' has made a breakout from the smaller triangle and it found a resistance from the round number at $200. At the moment it has started to make a throwback, the throwback is healthy if we find a support from the orange triangle upper trendline. The trendline is supported with several EMA's (50, 100, 200) which all starts to work as supports. Actually, at the moment, this is a pretty rear case that DASH' trades above the all important EMA's on the four-hour chart it is a very strong statement!
If the whole market starts to show us some positive signs then this retest area would be a perfect spot to invest into the DASH' but You have to watch what BTC' does, currently it 'sitting' on the "Descending Triangle" and we are ready to make a breakout from either direction so, the current market situation is a bit risky because we have mixed signs!
If the bounce happens then again we bounce upwards to the round number level and overall this is a pretty strong level to beat. Why? Because:
1. $200 round number works as a resistance
2. July low works as a resistance
3. The trendline since 20.07.2018 works as a resistance
So, a pretty tough level but if we manage to break upwards then the triangle pattern shows us that the next nearest target would be the next 'round number' $250 and definitely we reach there because DASH' has shown almost incredible strength compared to other top altcoins!
...and to give You a bearish view/confirmation, it is simple - at least a four-hour candle close below both triangles will guide us to the lower levels, so watch out if the price reaches into this area (around $175-$180)
Hopefully, those levels and this analysis helped You out a little bit to confirm Your own analysis!
Please, don't forget to hit the LIKE button to support us!
Best regards!
Note
DASH made a retest, after the retest we got a "Hammer" which is nice bullish candlestick pattern and we are ready to climb higher! If the market holds then this is the perfect trade scenario!
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