DASH: Another Consolidation Waiting for Direction

Does this chart look familiar?

A lot of alt coins are putting in this pattern and if you read my post on NEO, then you'll see the theme.

Alt-coins are consolidating in a big way. Big consolidation = Big break out DOWN or UP.

My bias is up because we still don't really see any classic signs of weakness seeping into the charts. That means, even if we do get weakness, it will probably be bought up by all the people who wish they had gotten in earlier. Eventually, buyers will tire and we'll see those signs, as we always do regardless if the market is in the year 1500 or the year 2020.

So Dash is consolidating in this range denoted by the two converging trend lines. I love how this plays out. The trend lines seem to converge perfectly around mid-November, which is EXACTLY when the Bitcoin Segwit 2x Fork plays out.

SURF THE WAVE OF ROTATION
My recurring theme of late is rearing it's curious head once again. I think we'll get money moving into the Bitcoin space to capture those free Segwit 2x Coins, or as Trace Mayer puts it, "the bitcoin dividend". And then we'll see a flow out of Bitcoin into the alt-coins which will lead to the break outs of all these consolidations.

WHAT'S THE PLAY?
Get your free Segwit 2x Bitcoins, but also keep some reserves in the alts just in case we explode early or you can't get all your Bitcoins out in time.

WHAT DO WE LOOK FOR?
We will look for tight ranges, support bounces, and coiling price patterns underneath resistance levels against BTC.