Greecetom
Long

DASH LONG opportunity - Support on massive trend line level?

BITTREX:DASHBTC   Dash / Bitcoin
Dash has seen a tremendous downward trend from 0.1+ BTC to now roughly 0.035 BTC /DASH.
Now the previous resistance of the rally in march 2017 is again tested as support level like in Nov&Dec 2017 where it held very well.

I would give this trade a high probability to the upside (also considering Crypto markets seem to turn slightly more bullish again), however if the support level fails I expect a full retrace and would place a stop at around 0.03-0.031 BTC

Comment: This would be the optimal zone to enter. Going down to 0.03 BTC would trigger my stop-loss however a reversal of the down ward trend is more probable. Seeing a similar pattern with a "9" (TD indicator) on the weekly chart.
Comment: Bullish engulfing. There we go

Comments

There is a major daily bearish divergence on the RSI.
Reply
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