Make it or break it point for DASH, if it breaks and closes below 236 on the Daily and the Weekly, there is a high probability it will go to $0, if this does happen I assume BTC is in the midst of crashing and many coins will be in the red.
I have placed a stop below $236 which will put me into a short if we break below and if you are following this trade and trading based upon it I would advise you to do the same thing because the structure will be invalidated if that happens. Will try to update this analysis every week or so since it is based upon weekly candles and the long-term timeframe.
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Yellow lines are if were to take the direction of an extended wave 3, whereas the white lines are if it were to take the direction of an extended wave 5.
Also there is bearish divergence present but this does not always mean a 100% reversal as it can also signify momentum loss and entering a range.
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Bullish Divergence* not Bearish Divergence
Structure Analysis:
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Very close to our $236 decision point.
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Had to re-adjust the fibs but even with precise 0% and 100% looks like we have closed below 85.4% on the daily, last hope 88.6% but unlikely it will hold for long.
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Broke and closed $230, DASH to $0 - BTC will need to go to around $3000.
DashBTC appears to be the only altcoin/BTc pair attempting to complete a multiyear Elliott wave cycle. Nobody has able to keep the 4 above the 1. Except dash.