DASH having upward breaks from nested flag resistance lines
DASH has been somewhat boring compared to other Alts the past two months, trading-wise. However, based on this analysis, we might see significant upward movement some time within the next thirty days.
What I see are nested flag formations, two of which have been fulfilled. In those two cases, DASH broke upward and continued longer consolidation into a larger flag, gradually coiling tighter. This analysis is based on the assumption that DASH will continue to break upward out of flags.
Scenario 1: Yellow support line holds strong; expect a significant upward breakout around June 14th - 22nd.
Scenario 2: Yellow support is broken and the price stabilizes beneath it, we're looking to early or mid-July.
If it rises above .075, we could potentially see new ATH.
Use your own brain and when making trading decisions, and diversify properly. I don't know of anyone who's chart analysis track-record is 100%.
What I see are nested flag formations, two of which have been fulfilled. In those two cases, DASH broke upward and continued longer consolidation into a larger flag, gradually coiling tighter. This analysis is based on the assumption that DASH will continue to break upward out of flags.
Scenario 1: Yellow support line holds strong; expect a significant upward breakout around June 14th - 22nd.
Scenario 2: Yellow support is broken and the price stabilizes beneath it, we're looking to early or mid-July.
If it rises above .075, we could potentially see new ATH.
Use your own brain and when making trading decisions, and diversify properly. I don't know of anyone who's chart analysis track-record is 100%.
Note
IF price stabilizes below yellow support, be more cautious.Note
Be careful with Dash right now. It has already demonstrated nested flags. It's entirely possible we could be looking at the formation of a new, larger, encompassing flag, in which case it would reverse into downtrend soon.Caution
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.