DASH has had a real battle gaining momentum over the past year and it's had it's fair share of FUD. But since the March low it's been slowly grinding higher. Since Bittrex is not even top 10 in terms of exchange ranking I don't think the de-listing will have any long term impact on DASH. The marketing approach for DASH has also been switched form "it's a privacy centric coin" to "Privacy is opt in" and "DASH is not more private than BTC". I think this pivot will help their case. No matter how you look at it, DASH has impressive adoption throughout Latin America and is solving real world issues for people who really need it.
What adoption? Over 5000 merchants accept DASH as payment, it's got more than 2000 ATMs worldwide, processes over 20,000 transactions per day and it's helping people escape hyperinflation in places like Venezuela. It's currently used as much as BTC in Venezuela. For me, these metrics are very BULLISH
Something I found interesting was the unusual volume spike. When I see FUD and a corresponding Volume spike like that, it always makes me pay attention. This is a common trick used in the market. Release FUD, buy the dip. Don't let them shake you out. Play the higher timeframes. Win. You're in before the big players. Don't let them steal your coins. If you want to see for yourself, I use (coin trader . pro) go to charts and look at the arrogated volume. There's also the same strange buy spike for ZEC, XRM, LTC and a few others. It's not a small anomaly, it's like a whale has just market bought 10x the daily volume on each of them. PAY ATTENTION TO THIS
Key points:
Higher highs, higher lows
Broke-out and re-tested descending trend-line
Broke the Jan- Feb 2020 high, first major higher high since Dec 2017
Currently trading above the High volume node ($70-$85), This should act as strong support
Things to keep an eye on:
Broke the Jan- Feb 2020 high but failed to stay above it (Swing frailer pattern)
Break down from the lows and channel line at $61 & I'm calling GG for 2021
Small high volume node at around $180 in line with the Jun 2019 high
Watch for resistance at the 0.5 & 0.618 Fibs on the way up.
Supporting the points above:
Question: Does anyone know how to see the combined volume here?
Never Trust. Verify. D.Y.O.R. Not Financial Advice Just an Observation. Technical Analysis is not about being right, it's about increasing your odds. Be prepared to be wrong. Risk management is key. Capital preservation above all else
This Setup has played out very well, Im expecting bullish continuation
Mozzi111
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@TribeWriter666 Hows dash looking? I think we see $500+ this month
TribeWriter666
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@Mozzi111, Hope so. It's been looking good, nice price action, breakout and re-test of the ascending channel... just need Bitcoin to play nice ;)
modotir
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@TribeWriter666, what resistance levels you are looking FOR on the road back to ATH ?
TribeWriter666
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@MahmoudElTair, There are many levels I'll be watching. For DASH:BTC I want to see a breakout of the descending channel. Then there is the high volume node, fib levels and previous lows of 2015-16-17. sorry for the messy chart but this is what I'm looking at:
TribeWriter666
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@MahmoudElTair, As for the DASH:USD pair, it looks a lot better, only a couple of things to watch. The median line of the larger channel and fibs, in particular the .707 due to the confluence with the lower high in 2018. But notice the breakout and re-test of support? That's veri nioce...
modotir
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@TribeWriter666, this chart looking great yea i exppect resistance at 500$ range
TribeWriter666
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@MahmoudElTair, Thanks. Do you have targets for DASH? How much by eoy?
modotir
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@TribeWriter666, seems that 365$ resistance once break the ATH will be so near , at least 2500$ EOY