DASHBTC trade ideas
DASH support broken but price might come backDash broke its support level against BTC as it slides down. Although it didn't took a strong beat but a comeback is possible for DASH.
Moving Averages is likely to cross soon and RSI is low, if this pulls a bull signal i'm expecting 10%-30% increase in price.
Although MACD is pointing downwards and the support is broken a nice pull back due to MA crossing with RSI almost oversold looks a good buy.
Note : Trade at own risk, a lesser price movement due to MA crossing would likely mean a further fall
BTC : 13dB8bdNwNmYdNem5KhnCGb1S9iM1ZNgZV
LTC : LcWFNjq8n1rgAkf5ZcgiHs8fcRXqb5tfxW
DOGE : D7mUH48M5SN5vi3R2p5RzWPpyypkRjeCE6
Dash , A great buy opportunity in DASHBTC . Catch it!!Technical analysis:
.DASH/BITCOIN is in a range bound and Beginning of up trend is expected.
.The price is below the 21-Day WEMA which acts as a dynamic resistance.
.The RSI is at 39.
Trading suggestion:
Price is in the Buy Zone (0.0643 to 0.0580), we would set orders based on Price Action and expect to reach short-term targets.
.Beginning of entry zone (0.0643)
.Ending of entry zone (0.0580)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Hammer" or "Trough" , in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:
(We have started to prepare these lessons in TradingView. If you want us to continue, give us feedbacks).
Take Profits:
TP1= @ 0.0724
TP2= @ 0.0775
TP3= @ 0.0803
TP4= @ 0.0920
TP5= Free
DASH/BTCDash has recently been experiencing some crazy price movement. In the past few weeks, the highs and lows were due to extremely long wicks of the candlesticks. These swings in price are usually a good time to expect the price to retrace back to these levels in a more consistent manner. A few days ago, the price began its decline, following along a trendline quite well until this morning. The price did close slightly above the trendline and created a long upper wick like before. Although, the prices never reached a price above the EMA(20) even on the highs of the candlesticks. Along with the current trend, this leads me to believe that the EMA(20) is being used as a pretty good resistance level right now. If this level is broken, along with the resistance level of 0.064936, I expect the price to continue in the bullish direction due to the indication of a solid bullish reversal. In the past, this 61.8% fib retracement has not been very reliable in terms of creating reversals. An indication of a bearish target is present in the case of this level causing a reversal anyway. Even though the recent bullish candlestick closed above the trendline, if the price creates a reliable bearish candlestick when closing at this period I would still consider this trendline accurate and expect more bearish movement before the actual breakout. The RSI is still relatively low, although, it has been following price action quite well so there is not much that can be told from it aside from the fact that it was oversold last night and a breakout now is possible.
Important Resistance Levels: 0.067250, 0.064936
Important Support Levels: 0.062534, 0.060676
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
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GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
Written by:
Arham Bheda
Senior Research Analyst
DASH SHORTDASH TRADE
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Trading the downward trend.
Dash has been trading sideways within the last year.
This asset has really low community support due to its corrupt beginnings. As a result I think its growth will be very limited. Long-term, I think investors will be wary of this and money will flow to other currencies.
Sorry dash.
*My opinion, not based on any particular event moving forward.
Entry:
Downward trend line resistance
Exit:
There is a lot of structure and no clear dominant support if it falls. Will take small profits at each green zone downward.
1st @ 30% 2nd @30% 3rd @40%
Risk:
1. Position size limit 10%
2. S/L & Liquid price = Previous trend resistance
Reward:
Approx 2 @ first take profit
