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DASH / BITCOIN

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DASHBTC trade ideas

DASHBTC is testing the daily support 🦐DASHBTC is testing the daily support after an important bearish impulse. IF the price will lose the support, we can see another bearish impulse. According to Plancton's strategy (check our Academy), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
10
Similarities between DASHBTC and ETHBTCI have had a favorable view of Dash for a while and have been trying to construct a trading plan. The scratching in the back of my head had me look at the DASHBTC chart and compare it to the ETHBTC chart and here are the similarities I plan on using until my plan is invalidated for the next couple of years. Chart Overview and Analysis The black bands were drawn on the monthly chart and are zone of serious consolidation for many years for both trading pairs. When price finally clears the area on the monthly timeframe there massive gains to be had. The top of the zone failed as support there was a multi-year bear market against bitcoin Ethereum moved faster against bitcoin but it also had less upside and downside. Dash is taking longer to consolidate against Bitcoin but when it finishes it very likely will have more gains for the patient. The speed of the movements can be seen with ETH already way above its 400w EMA and finding resistance and consolidating against zone of price action where it failed to find the 400 as support. Dash has a chart pattern against the 400 EMA just as ETH and I suspect it will resolve bullishly. This will take price action above the 400 EMA and to the resistance trendline which is now some 7 months old. From there a retest of the 400 EMA/Megaphone support would be very natural. DASHBTC retesting the 400 EMA is a very serious even. It could be over a 50% pullback on the pair and an even more serious pull back against USD, up to 70 percent. DASHBTC could resolve itself bullishly while DASHUSD and BTCUSD are in a multi-year bear market. More Charts Below is the Fib Retrace from DashUSD ATH to bear market low and we see that price action failed right in the golden pocket. I suspect we will see a lot of consolidation and the next major stall will be at the 0.786 and then price action will test the 0.618 as rough support. The next chart is the most provisional but it shows a possible recovery route for Dashusd. There was a quick move to just shy of the 0.5 retracement level, a consolidation and then a move to the the golden pocket. I expect something similar but not an exact repeat. Here is a zoom in of DASHBTC on the daily chart. The MACD Histogram has a lot of bullish divergence as does the MACD (Asprey Version) and the RSI has found a technical double bottom. I suspect price action will stall at the top of daily BB and Keltner Channel and have some chop but the price action in February does show I could be pleasantly surprised by a very quick move to resistance. DashEth on the weekly is looking like it will return to the black trendline and possibly beat it as resistance. The purple arrows show bullish divergence and the orange line shows a technical double bottom. Very promising and even if it stalls at the black trendline again it still doubles against ETH. Final DashUSD targets Here is Dash next to ETH on the long term chart. Both have the ichimoku clouds on the weekly setting turned bullish and it makes it clear that in very short order DASH could be closing in on its 1.414 fib extension over $8,200 or perhaps an even higher fib target. Off to the left we see the importance of taking profit before the major levels as ETH came to less than 10% of the 1.414 level. But if Dash is anywhere near close to target in a year or so I will be a very happy man. One reason why I do like fib channels is it called the Eth high perfectly. I might have to settle for mere 5k Dash before a major consolidation. A mere 30x from here. Closing Thoughts This charting reflects a lot of my trading style and personality. I am sure they new coins out there that may have more upside than Dash and that are moving a lot faster but as I get further along in my trading and active investing I want something with more history against both itself and major alts. All the general disclaimers of this not being trading advice and myself not being a advisor apply.
Long
by This_Guhy
4