L3gOnD

DASH Retrace then Boom

BINANCE:DASHBTC   Dash / Bitcoin
DASH reached it's ascending triangle target right on the number and has done so in a falling volume, rising wedge formation. A standard bearish divergence is also showing on the RSI so a retrace is due. A break of this is expected down and a fall to retest the long term downtrend line (light blue) that was previous broken through. A confirmation of this retest will make it support and it is also at the 0.382 fib level which would be a very bullish bounce. The next leg up would begin here to the next resistance area which is the top of the massive Kumo Cloud we are inside of on the 12H timeframe and that target is 0.058.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.