DASH reacted strongly to the 0.021 demand level with one of the highest volume days ever! Since then, it has continued to trend higher tapping the demand zone around 0.0255 before resuming its uptrend.
It has run into resistance here and is having trouble closing above this supply zone. If the daily candle can close above here, we can expect a continuation of the trend higher. However, if BTC does continue to breakdown, we can enter a short position on a break of the triangle and target the 2 demand zones below as initial targets.
Stops would be placed above the SFP high on that previous attempt to break above and if we do get a fakeout lower, we could chase the upside move with BTC momentum above 6600!
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It has run into resistance here and is having trouble closing above this supply zone. If the daily candle can close above here, we can expect a continuation of the trend higher. However, if BTC does continue to breakdown, we can enter a short position on a break of the triangle and target the 2 demand zones below as initial targets.
Stops would be placed above the SFP high on that previous attempt to break above and if we do get a fakeout lower, we could chase the upside move with BTC momentum above 6600!
Please hit the 'like' button and give us a follow!
Let us know what you think below!
Thanks
Comment:
Wicked out on this trade but we could still see DASH come down if BTC starts to retreat. On the other hand watch for the overhead supply zone if we do start to break and close above this triangle!