Crypto Bottoms: DASHUSD
I first saw this setup in March this year and thought "Dash under $100??? Yeah right". Well, here we are. For this setup we've got a less-than-textbook doji bar midpoint but it nevertheless signified a pause in a strong down move.
Yet again there's some serious inter-exchange differences to contend with since this setup involves the 1,500+ spike in December 2017. One exchange even resulted in a target zone of -$43 which I guess gives a whole new meaning to the word "bearish"! Here is the setup on Polo, which is a good average representation. A test of $100 seems damn near guaranteed, with a potential spike down into the 80's and 70's possible. If this occurs, ideally we'd wick back up by the end of the week with no close below the horizontal support line I've added - it passes through a doji bar in May 2017 (also circled) which marked an important level that was resistance for weeks before then so this level could prove to be significant again (market memory).
Yet again there's some serious inter-exchange differences to contend with since this setup involves the 1,500+ spike in December 2017. One exchange even resulted in a target zone of -$43 which I guess gives a whole new meaning to the word "bearish"! Here is the setup on Polo, which is a good average representation. A test of $100 seems damn near guaranteed, with a potential spike down into the 80's and 70's possible. If this occurs, ideally we'd wick back up by the end of the week with no close below the horizontal support line I've added - it passes through a doji bar in May 2017 (also circled) which marked an important level that was resistance for weeks before then so this level could prove to be significant again (market memory).
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