Head DASHing!
Hello ladies and gentlemen! Welcome to my third awesome (not really) chart! None of my previous became true so far...will this be the charm??? Nah.
Here we have Dash/USD on 4h charts and after all the lows it managed to overcome bear pressure and push up a lil.
In the process it created inverted Head & Shoulders between the 61.8% and 78.6%. This being considered by many as a trend reversal pattern (I just like how it looks and don't really care).
It did manage to break above the neck of H&S but the volume wasn't great so it's wabelling around the 50 EMA in yellow and 200 EMA in purple. Atm it seems to want to trade above the 200 EMA and it could use it as support for higher highs.
The 50 EMA is closing on the 200 EMA becoming a strong support level for a future launch.
Now, about the MACD! It made a bullish divergence with the price action which also indicated that the trend reversal could be upon us (and don't we love it? say yes!).
Best Regards,
Legal Disclaimer: This information is not financial advice nor a recommendation to buy or sell. It's only meant for use as informative, entertainment and educational purposes.
Here we have Dash/USD on 4h charts and after all the lows it managed to overcome bear pressure and push up a lil.
In the process it created inverted Head & Shoulders between the 61.8% and 78.6%. This being considered by many as a trend reversal pattern (I just like how it looks and don't really care).
It did manage to break above the neck of H&S but the volume wasn't great so it's wabelling around the 50 EMA in yellow and 200 EMA in purple. Atm it seems to want to trade above the 200 EMA and it could use it as support for higher highs.
The 50 EMA is closing on the 200 EMA becoming a strong support level for a future launch.
Now, about the MACD! It made a bullish divergence with the price action which also indicated that the trend reversal could be upon us (and don't we love it? say yes!).
Best Regards,
Legal Disclaimer: This information is not financial advice nor a recommendation to buy or sell. It's only meant for use as informative, entertainment and educational purposes.
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