Dash- Extremely strong coin with excellent breakout
Updated
Hi Fellow Traders,
Lets look at Dash, a coin which has had massive gains from 2016 to 2018. If i remember correctly this coin went from $4 to $1500 in that period, these values are estimate if i remember correctly but you could check and see for yourself. Now ever since Feb of this year all coins took massive hits including Dash, and what is exciting about this is we have a new opportunity to buy Dash at a cheaper price. So lets take a look at technical analysis of this coin:
1) Divergence on Rsi and MFI on daily chart which is a extremely strong indicator of a possible trend change
2) The directional movement indicator is showing the DI- falling from above the 40 mark, which also adds to the directional change of this coin and also the ADX line also falls from this 40 mark also adding more strength to the idea
3) The massive breakout from the downtrend with much higher volume is also extremely important
4) The retracement after this initial breakout has higher lows with lower volume with more green candle volume which shows how strong this run might be.
5) You can also the Dash/Usd pair and see for yourself that we have reached the start of the fifth wave of the last price run for dash, this is usually a strong point where downtrend might end, although not always the case just remember that.
Put a stop loss 15% of entry point
REMEMBER
In Technical analysis we try to increase the probabilities of success, so be open to new information and being able to adapt to the constantly changing market.
Successful Trading
Crypt1c_one
Lets look at Dash, a coin which has had massive gains from 2016 to 2018. If i remember correctly this coin went from $4 to $1500 in that period, these values are estimate if i remember correctly but you could check and see for yourself. Now ever since Feb of this year all coins took massive hits including Dash, and what is exciting about this is we have a new opportunity to buy Dash at a cheaper price. So lets take a look at technical analysis of this coin:
1) Divergence on Rsi and MFI on daily chart which is a extremely strong indicator of a possible trend change
2) The directional movement indicator is showing the DI- falling from above the 40 mark, which also adds to the directional change of this coin and also the ADX line also falls from this 40 mark also adding more strength to the idea
3) The massive breakout from the downtrend with much higher volume is also extremely important
4) The retracement after this initial breakout has higher lows with lower volume with more green candle volume which shows how strong this run might be.
5) You can also the Dash/Usd pair and see for yourself that we have reached the start of the fifth wave of the last price run for dash, this is usually a strong point where downtrend might end, although not always the case just remember that.
Put a stop loss 15% of entry point
REMEMBER
In Technical analysis we try to increase the probabilities of success, so be open to new information and being able to adapt to the constantly changing market.
Successful Trading
Crypt1c_one
Note
Many other Altcoins are exploding, we wait patiently and hopefully we will get some action on Dash and some of the coins we hold. Patience is key. To those who suggest that bitcoin will fall lower then $5600 are betting against the odds, as shown by the positive activity by the market. Wait till bitcoin explodes that is when the real action will startNote
Get ready children
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