DASH Technical Analysis: REACHING A DECISION POINT

Dash has been dropping within a falling wedge for months. It’s finally nearing the apex.

Volume has increased greatly in the last 2 days. Price bounced off (double bottom) a strong demand zone between $138-$130. It’s now finding resistance at the top of the falling wedge and bottom of a supply zone between $200-$208. This is a critical point and a decision must be made. If DASH can’t break out of the falling wedge, I believe there’s a strong possibility it’ll fall and retest the $138-$130 demand zone. In order to break out of the wedge, and above the supply zone, volume must remain strong.

The 1 day MACD is showing clear hidden bearish divergence. This suggests a pull back is likely.

I can see 2 possibilities. The first has DASH beginning wave 2 of 5 waves up. For this to play out, volume has to continue to increase. Here’s how this scenario might unfold:

My bearish scenario has 1 more wave down before a breakout at the apex of the falling wedge.

In today’s video analysis, I discuss price moment in more detail, traps to avoid and MUCH more information not found above.

Video Analysis:

If you’re viewing this on a site other than Steemit, and you don’t see the above video, navigate to Steemit or TIMM (https://mentormarket.io/profile/@workin2005?aff_id=Workin2005) in order to watch.

BIAS:

Short Term: Neutral
Longterm: Bullish

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!

Workin

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by Workin2005

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