Dash was one of my earliest picks due to the organization behind their community and development team. I first added to this coin back when it was at 338 and it has since performed quite well. Dash has quite a few use cases and has already penetrated the transactions market. Most importantly Dash's quick recovery even gains during the past few days says much more than any TA as market psychology seems to be in favor of Dash.
I think Dash may retrace to the .382 fib line which I have marked with a green box before continuing upward to a wave 5. I do not think it should retrace more than the .5 line.
Also keep in mind our current market physiology. Dash will not stay down for long. As I am typing this Dash has already bounced off the tip of my box. Dash might not retrace much and find support above my yellow support/resistance line.
What do you guys think?
I think Dash may retrace to the .382 fib line which I have marked with a green box before continuing upward to a wave 5. I do not think it should retrace more than the .5 line.
Also keep in mind our current market physiology. Dash will not stay down for long. As I am typing this Dash has already bounced off the tip of my box. Dash might not retrace much and find support above my yellow support/resistance line.
What do you guys think?
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I have been playing the channel I have set up on my chart all day. It is pretty risky so I would not advise doing it with a large sum. Just making a bit of profit between the next leg up...
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BTC also has a nice channel I am currently playing. Waiting for it to breakout. Not sure how deep the channel will run though before the breakout.
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The blue line in the BTC chart above is where I expected it to break out just based on a support/resistance line pattern I noticed within the wedge. Below is the course it is actually taking. Near perfect! I got worried for a second when it did not breakout where I thought it would since there were no other indications as to how far down the channel would take me. But it immediately found back the line and seems to be following it up now a bit. I say this to stress the importance of simple trend analysis. Look for these channels etc. You can make money scalping these pips.
It also seems that BCH might be falling back into it's lower channel from my first chart. Which is what I was hoping for to get another scalp out of it but it should not make a break for the bad. But who knows. TA is just a probability game.
It also seems that BCH might be falling back into it's lower channel from my first chart. Which is what I was hoping for to get another scalp out of it but it should not make a break for the bad. But who knows. TA is just a probability game.
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Created a separate topic for BTC with possible levels Here
