Hello everyone, today we will be taking a look at yet another DASH chart to provide an even more clear picture as to what is happening.
In this chart, I am on the 12 hour time-frame, but am using the 50 Day (green), 100 Day (blue), and 200 Day (red) moving averages.
From February 28th through March 12th, price action printed Higher Lows, finding support on the white trend line. On March 14th, price fell below this white trend line, and we confirmed the rejection by taking it as resistance on March 18th.
Price then entered a new trend line, with the grey one acting as resistance on March 13th, and confirming a rejection on this resistance line on March 18th, 19th, and now currently on March 29th.
To go along with this, we have Bearish Divergence on the RSI, with price making a Lower High, and the RSI making a Higher High.
We also have price hitting the 50 Day Moving Average, looking to hold it as resistance.
Because of this and my other DASH Analysis' that I've done, I expect price to drop first towards the 100 Day MA depicted in blue (currently around $166), and then the 200 Day MA depicted in red (currently around $123).
In my other charts, this region near the 200 Day MA is also where the bottom of a strong trend channel lies, so I expect it to ultimately go down near the 200 Day MA region.
As always, I hope you all have enjoyed this analysis, be sure to leave a LIKE and SUBSCRIBE if you found it helpful, and be sure to always use your own due diligence.
Have a great day!
In this chart, I am on the 12 hour time-frame, but am using the 50 Day (green), 100 Day (blue), and 200 Day (red) moving averages.
From February 28th through March 12th, price action printed Higher Lows, finding support on the white trend line. On March 14th, price fell below this white trend line, and we confirmed the rejection by taking it as resistance on March 18th.
Price then entered a new trend line, with the grey one acting as resistance on March 13th, and confirming a rejection on this resistance line on March 18th, 19th, and now currently on March 29th.
To go along with this, we have Bearish Divergence on the RSI, with price making a Lower High, and the RSI making a Higher High.
We also have price hitting the 50 Day Moving Average, looking to hold it as resistance.
Because of this and my other DASH Analysis' that I've done, I expect price to drop first towards the 100 Day MA depicted in blue (currently around $166), and then the 200 Day MA depicted in red (currently around $123).
In my other charts, this region near the 200 Day MA is also where the bottom of a strong trend channel lies, so I expect it to ultimately go down near the 200 Day MA region.
As always, I hope you all have enjoyed this analysis, be sure to leave a LIKE and SUBSCRIBE if you found it helpful, and be sure to always use your own due diligence.
Have a great day!
