Short analysis based on pitchforks (median lines). After a breakout of the upper median line established a sliding parallel, this parallel can be used with high probability to success (with good risk management) in a short trade. The setup could be repeated few times.
You all know im huge on DASH and I have been accumulating the bottoms. We made an extended 5th wave for HUGE PROFITS.
THE EMA is a great indicator for expected resistance and a spot to take profits.
EMA Didn't fail
DASH provided perfect double bottom entry at $57 and defeating the $60 test. Fib and previous price action provided perfect exit points.
$70 and would expect a cool off to $65 before looking to test $75.
Entries I n Green - Exits in RED
A Channel down pattern is trading range between diagonal parallel lines. It forms when an up or downtrend is formed between parallel support and resistance lines and suggests either a possible reversal in the trend or a change in the slope of the current trend.
Entry Price: 78.44
Take Profit: 87.50
Stop Loss: 77.29
I think its safe to say that we are in total capitulation stages of the cycle... Depression, anger.. Its all out there.
Lesson 1 i teach is the Emotional Cycle of a market. In December people told me this didn't have an impact on Crypto? Oh really.
Understanding where you are in a cycle is the first stage of TA. You make your % targets from there, you assess risk...