This is a pretty massive pennant/equilibrium. We have some time to let this get tighter but I wanted to get it out there for anyone not aware. I'll give more information on my expected price targets etc after the break upwards. If we dip below $99.79 we're most likely doing something other than this equilibrium.
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Something to be careful of if you're watching this pattern. Breaking $99.79 would confirm this imo.
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That pic was binance but same thing for the coinbase chart.
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We are still in basically the same situation as my last update. We've technically broken support but its not getting follow-through. I honestly see this dumping past $99 if BTC doesn't see some upward movement to get it away from the $99-103 area. It's possible it could weather a BTC dump, but I don't see it as likely. $91-$93 would be the next support.
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Equilibirum/pennant forming. BTC is still in a daily downtrend so more downside is possible. I wanna see some volume behind a breakout up if we've hit the bottom.
What is your price target below $99 (bearish) and above 135 (bullish) ? Thank you very much.
Dtradess
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@Bayraktaro, This is my bearish outlook. The closest support will be the lows around $90-95, but if we break from the pennant it's likely we head further down. Though this entirely depends on how far Bitcoin dumps. My next target after breaking $90 would be $80-85 which is our next fib level and would line up with my flag pattern(red zone).
This will all depend on how hard BTC moves as mentioned. I would personally recommend waiting for at least a 15min trend change before entering if not anything bigger.
I'm waiting for more info to determine a bull case, but assuming we stay within the pennant I would be looking to $180-200 at the least.
Encinomanz
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I would consider significant gains to the upside as the daily closes above the resistance trend-line in the case that btc too has fulfilled its hardly still debated near future projections (up).
Dtradess
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@Encinomanz, Agreed. We'll likely see pretty extreme upside if both BTC and DASH break through their respective patterns around the same time.