DASH: A Downward Wedge
SUMMARY
DASH has been correcting since January and thus far, marked out an elaborate WXYXZ (blue) corrective sequence as shown in the below chart. Each wave of this sequence consists of three subwaves which are labeled as an abc (red). If the blue Z represents the correction bottom, then the likelihood of a renewed uptrend would be pretty high.
Since blue Z wave, price rose in a five step impulse (white). The requisite correction can be patterned as a downward wedge. IF this pattern is correct, price should breakout and start putting in higher highs. Remember that impulse waves 3,4 and 5 usually become vertical and so, once the second wave of impulse initiates, look for that vertical move.
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This post has been downvoted, it is a @flagtarget.
READ: Resteeming @haejin's 8th 9th and 10th post of the day as target to be flagged.
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I cant see any reason for buying dash ..
Good post
@haejin, on your next article, could you address Elliott Wave analysis and how to take into account major news that impacts the price of crypto, and in turn, impacts the chart graphs? Thanks!
Have a look at this article.
https://steemit.com/bitcoin/@haejin/essay-is-technical-analysis-a-quantum-event
Dash is considered fast, but at this point there are alot of faster and much much cheaper coins to buy than Dash to buy.
It doesnt make sense buying Dash at this price level.
A great post for those people who follow @haejin and search about cryptocurrency and blockchain business..
Legit analysis; I'm looking out for more... Thanks for sharing
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Makes a lot of sense, thank for the enlightenment.