I recommend setting stoplosses at 945 usd for the moment, and once dash bounced off the blue support line, raising your stoplosses to 1050 usd to protect us in a more favourable position.
To prevent using fake breakouts as a buy signal, make sure to wait until the candle closes above resistance. You could also use the green entry line as an entry level in case there is a large breakout going on. This is however more risky.
supports upwards movement.
The first target is about 1533 usd. The second target, which will likely take a long time to reach, if at all, is 2000 usd.
Important to note is that there will likely be pullbacks around the fibonacci lines, so keep that in mind while trading.
If I made you money, please consider buying me a beer to make my day:
The cryptomarket reacts this way because most people trade in btc-to-alt pairs. When BTC crashes, the btc-to-alt ratio stays the same, but since the value of btc is lowering, the alt value in usd is also lowering. You could say BTC is the pilot and alt coins are the plane: if the pilot jumps down, so does the plane. Only when an alt-coin overtakes BTC, will this change.
Hope this helps!
So, I was looking at LTC to buy you that beer. Seems like LTC might be making a move soon - What is your opinion? Do you think it is worth buying now? maybe we can turn that beer into a bottle of whiskey?