BTC feat. DASH - TOP catching

Mar 6, 2020

My personal tip for trading: if you have two assets, that are highly correlated (in our example DASH/BTC and BTC) and one of these two assets has very nice, textbook structure (DASH), while the the other asset (BTC) doesn´t have really that nice structure, you can USE first asset to predict move on the second asset. DASH should find the top after we hit target of triangle and in the same time, BTC should also top out. In our case, DASH/BTC and BTC are moving in same direction.

Mar 6, 2020

Note

I forgot to mention one scenario, that isn´t that likely, but we saw that kind of action few times, so definitely worth to mention.
Sometimes, when BTC goes up parabolically, then altcoins in BTC pairs are going parabolically DOWN. This is caused by BTC dominance, basically whales are just pumping money from altcoins to bitcoin.

Mar 6, 2020

Note

DASH nicely break the triangle up, but now came down, probably for retest. Correlation is still same, so right now BTC should be at some local bottom and together with DASH/BTC should continue higher. I don´t think, that this was just fake triangle breakout on the DASH, buying volume was pretty decent.