Dash seems to be under a heavy preassure after managing to create a double top. I draw the strong red resistance area once being a solid support.
Low volume on Dash could meant it is vulnerable to price movements of BTC if retracing to 3150 USD area. For Dash in that case there seems to be a reasonable support area around 170+ USD. We could expect not very decisive reversal from there back to 184.
I also draw previously tested green low 130 - 140 USD. We find a very strong support in this area where we can expect a strong reversal if Stochastic RSI supports it. Generally speaking I see entry points anywhere below 151 which itself can be a turning point.
Final thoughts:
1) There have been some good news like white hat hackers testing and issuing a payment card for Dash. (We can conclude that the latter was already involved in the last strong retracement to 200 USD.)
2) If BTC will brake below 3000 level we could easily see a sell off in alts. Good buying opportunity could be found in 140 - 150 area if the trend reversal.
3) I see the risk too high around 175 support. Maybe 1:1. Definitely you should keep an eye on this area.
4) What I do: Personally setting buy orders 151, 142, 125. Stop loss tight to every order separately.
Disclaimer: I don't know what I am talking about and when I don't know where should I move next, I stay where I am. Good luck and will greatly appreciate your opinions, comments and support. Peace
Low volume on Dash could meant it is vulnerable to price movements of BTC if retracing to 3150 USD area. For Dash in that case there seems to be a reasonable support area around 170+ USD. We could expect not very decisive reversal from there back to 184.
I also draw previously tested green low 130 - 140 USD. We find a very strong support in this area where we can expect a strong reversal if Stochastic RSI supports it. Generally speaking I see entry points anywhere below 151 which itself can be a turning point.
Final thoughts:
1) There have been some good news like white hat hackers testing and issuing a payment card for Dash. (We can conclude that the latter was already involved in the last strong retracement to 200 USD.)
2) If BTC will brake below 3000 level we could easily see a sell off in alts. Good buying opportunity could be found in 140 - 150 area if the trend reversal.
3) I see the risk too high around 175 support. Maybe 1:1. Definitely you should keep an eye on this area.
4) What I do: Personally setting buy orders 151, 142, 125. Stop loss tight to every order separately.
Disclaimer: I don't know what I am talking about and when I don't know where should I move next, I stay where I am. Good luck and will greatly appreciate your opinions, comments and support. Peace
Note
Till breaching the strong supply area of 200 we continue to hold our positions.Note
If Dash push through 210 resistance (red line) prepare to jump in if wee see a volume there. Support your decision with Stochastic RSI.
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.
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.