Currency Pair: DASH.USD Time Frame: 4hr Predicted Direction: N/A
Live DASH.USD updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity. Should my daily predicted direction be incorrect no trade opportunity will be generated.
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Price looking to break ascending trendline support, keep a close eye for a close.
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Should price break and close below $695 expect a longer term retest of $615
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I now expect a pullback towards $700 prior to a continued push towards $615
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A textbook $700 pullback, all downside from here.
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Expecting $500 to be tested today.
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I have received many PM's in regards to updating this setup. Currently for me price is providing no support, once we see some shake up over this week i will do my best to update the setup once more.
IMHO only my IMHO, without any tech arguments - 615 is too expensive. And from time to time Dash is playing some kind of his game. Game of Thrones )))
UnknownUnicorn180388
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I agree @roma777, we will have to se if the market agrees :-)
DanialJa
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Nice work!
UnknownUnicorn995432
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All alts moving with BTC. IF BTC goes down, so will the alts. IF BTC goes up, the alts will too :)
m_wicked
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@doctorkesh, actually if btc goes up too fast alts take a beating. Respect btc both ways.
UnknownUnicorn995432
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@m_wicked, happens yes, but not this time. Every alt is extremely oversold. I expect a major correction with every coin after the SEC meeting. However, if Tether and Bitfinex are called out, then expect further dip.
A fall from 10.4k to 5.8k in 5 days is just too much. This is not one coin, this is an established market. Do expect some recovery, but we may see either a double bottom at 5.8k or we go down a bit more around 15:00 UTC.
ardent11
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I think it will go down.
UnknownUnicorn180388
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@ardent11, It's certainly a possibility, will need to see a break and close below ascending trendline.
downb4up
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@tomhall, seems that many coins are at this crossroad right now.
Can you please comment if the number of contacts on the trendlines (4 top, 2 bottom) change the probability for possible direction?
UnknownUnicorn180388
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@downb4up, It's a very good question, in my opinion the number of touches don't effect the probability as much as the overall structure.
On this occasion a break in either direction is possible.