Altcoins/BTC are crazy oversold. Bitcoin dominance is way too high considering all aspects.
Bitcoin finally looks like correcting and consolidating for a while - which would be perfectly healthy.
Altcoins/USD looks like ready for solid move.
This looks like the time to revive altcoin market. Most weak hands already sold on the way to the bottom.
Since the last Report, that was published before the Libra announcement, things changed, and market pushed higher.
However, we still hitting a major price juncture, and a $2.5k price dump in BTC has shown that. However, alts held reasonably well, so what happens next?
I am not sure who is buying at these levels now, but those people must have deep pockets....
Despite the recent correction DASH is still holding strong above it's trendline (any large timeframe closes under would invalidate idea). Opening longs in this area, TP's shown on chart, setting SL under trendline.
After a beautiful surge, we are not staring at at bullish flag, gathering strength into another breakout?
With more Traditional exchanges will allow trading in the crypto world will equal to more capital flowing into crypto thus pushing value higher. So unless, we are going to get some major bad news, it is unlikely that crypto will suffer a major bear...
Sub-Wave IV ( Symmetrical Triangle ) almost complete.
DASH should reach around $240-250 at the Peak of Wave I
Wave I is the first sub-wave of the Fifth and Final Wave that will see the price of DASH go between $1,400 - $2,500
Dash / USD Short-term price analysis
DASH has a bearish short-term outlook, with the cryptocurrency trading under its key 200-period moving average on the four-hour time frame.
The four-hour time frame is showing that the DASH / USD is under selling pressure, with bears attempting to invalidate a large inverted head and shoulders pattern.
- Elliot 1-2-3-4-5 Impulse Wave Completed
- Corrective Waves A-B completed, waiting on completion of C
- On completion of C, potential long entry to T1/T2 (.5 and .618 retracements of swing high April 2018
- EMA 50/200 Cross on 1D
Causes of growth:
- common bull market
- vertical support level
- struck the level of $ 177
Goals when buying at $ 177:
1 goal - 225 $
2 goal - 300 $
Stop-loss is placed in the zone of $ 170
so as you can see in the chart we have a triangle and it's a strong one.
The movement tried to break the triangle several times but failed every time but these days are best shot that Dash got to break the triangle.
if today's and tomorrow's candle close above the blue straight line and breaks it will go up to 250$.
but remember until the line is NOT...