DASH. The Case for a bounce at $125
Diupdate
Hi,
SO Dash is the only alt coin I look at these days. Instantly confirmed transactions and the plan to use on-chain scaling with evolution are actually good upgrades from BTC. The Dash Core Group has sighted reasonable use cases for dash and plan to grow the network realistically. I don't think crypto will go to the moon, but will carve out it's own niche in the financial space (FYI I know NOTHING about finance)
My target is $125 for a short term entry. It is a historical support and bullish divergence is developing.
It also makes sense when you look at the targets for DASH/BTC and BTC/USD
First DASH/BTC
As you can see, we are about to hit the log trend line which many traders are looking at. Furthermore, .025 coincides with a very strong historical resistance level, which should turn to a strong support.
Additionally, the WEEKLY RSI is at all time lows and bounced off this level before.
Zooming in to the daily
We can see bullish divergence developing, a reliable sign for an upcoming reversal.
Now, BTC/USD
We can see BTC is on the cusp of hitting the log trendline. This also coincides with the EVER FUCKING ANTICIPATED test of 5k, which also has the backing of monthly moving averages.
Hence we get $125 figure from 5000 x 0.025.
I mean it probably won't happen because the chances of all this lining up seem quite low. But IF the stars align and there is a strong bounce here, I don't think this is the final bottom for DASH, cause 50 bucks looks better in the medium term because BTC should go much lower still. So if I get lucky AF and get a fill, profit will be taken at the top of the wedge(or maybe there is a breakout wait and see), but that's a future pipe dream at this point. This could be invalidated in a day.
GL
SO Dash is the only alt coin I look at these days. Instantly confirmed transactions and the plan to use on-chain scaling with evolution are actually good upgrades from BTC. The Dash Core Group has sighted reasonable use cases for dash and plan to grow the network realistically. I don't think crypto will go to the moon, but will carve out it's own niche in the financial space (FYI I know NOTHING about finance)
My target is $125 for a short term entry. It is a historical support and bullish divergence is developing.
It also makes sense when you look at the targets for DASH/BTC and BTC/USD
First DASH/BTC
As you can see, we are about to hit the log trend line which many traders are looking at. Furthermore, .025 coincides with a very strong historical resistance level, which should turn to a strong support.
Additionally, the WEEKLY RSI is at all time lows and bounced off this level before.
Zooming in to the daily
We can see bullish divergence developing, a reliable sign for an upcoming reversal.
Now, BTC/USD
We can see BTC is on the cusp of hitting the log trendline. This also coincides with the EVER FUCKING ANTICIPATED test of 5k, which also has the backing of monthly moving averages.
Hence we get $125 figure from 5000 x 0.025.
I mean it probably won't happen because the chances of all this lining up seem quite low. But IF the stars align and there is a strong bounce here, I don't think this is the final bottom for DASH, cause 50 bucks looks better in the medium term because BTC should go much lower still. So if I get lucky AF and get a fill, profit will be taken at the top of the wedge(or maybe there is a breakout wait and see), but that's a future pipe dream at this point. This could be invalidated in a day.
GL
Order dibatalkan
Log trendline most likely lost for DASH/BTC. I doubt it closes above.
Put some quick and dirty levels on the chart, lets see where it finds support. BTC should still bounce at 5k so we can adjust our $ value for dash accordingly
Catatan
Although there is so much uncertainty in the alt market lately... It's probably much better to just trade BTC/USD XD
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