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DASHBTC trade ideas

Dash- Extremely strong coin with excellent breakoutHi 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
Long
by Crypt1c_one
DASHBTC - 4H - UpdateDASH reacted strongly to the 0.021 demand level with one of the highest volume days ever! Since then, it has continued to trend higher tapping the demand zone around 0.0255 before resuming its uptrend. It has run into resistance here and is having trouble closing above this supply zone. If the daily candle can close above here, we can expect a continuation of the trend higher. However, if BTC does continue to breakdown, we can enter a short position on a break of the triangle and target the 2 demand zones below as initial targets. Stops would be placed above the SFP high on that previous attempt to break above and if we do get a fakeout lower, we could chase the upside move with BTC momentum above 6600! Please hit the 'like' button and give us a follow! Let us know what you think below! Thanks
Short
by CM_Trades
DASH BTCStructure/Trend: This market saw a fast rise in price on the 28th of August to 0.026482, from there on the trend went further bullish and then bearish on the 30th of August which would later form a Support line within the price 0.026012. There was a bullish move in price on the 1st of Sept, breaking a higher Support line from the previous but leading to a Resistance level that would later be retested at least 5 time up until date. Just before the 6th of September the initial Support was tested and retracted price forming a kind of rising wedge move. From this point on Support and Resistance levels were constantly tested. A Triangle Patter formed from the 13th till the 17th. Hypothesis: Bothe the RSI and BB interpret the same thing in that the price seems to be stable at this moment, there is no particular uptrend or downtrend. On the parts of the EMAs both the EMA 200 and 50 are currently under the bars which means there could be a rise in price pretty much soon, also the EMAs just crossed path which could lead to a bullish cross over. Confirmation/Tell: If the RSI line were to touch the lower band, that would be a good time for a buy in this market, also if the price bars were to touch the lower band, it would be a good time to enter the market with a buy. This period being one where price is constant according to both RSI and BBs, would not be advisable to buy coins. Targets: The Entry Point in this market being 0.029939, the Stop Loss is placed just below the 2nd Support Line at price 0.027688. The Target Price is placed at 0.034811 above the highest Resistance, being a very optimistic price. The R/R ratio is placed at 2.53
by Delkayjaycrypto
Dash completing breakout-retest formation (BULLISH)Dash broke above the 4-month trend line resistance last week. After the breakout occurred, price action comfortably closed above the trend line resistance. In such occasions, the price either moves upside in almost a vertical manner (this happens in strong uptrends) or the price comes back to the crime scene and re-tests the broken resistance, now in the form of a support. This formation is called a Breakout-Retest formation. The way to trade this formation is to enter a trade in the direction of the breakout using the breakout-retest level as your entry price. As you can see on the chart, the price touched the broken trend line and immediately raced higher. A stop should be placed below the trend line. The profit-taking areas can be defined based on your risk management plan. My advice is to have your first profit taking area around 100 DMA level while the second zone is just above consisting of 38.2% and a horizontal block of the resistance.
Long
by WhaleAgents