Let's look at the daily chart of Dash and try to get an answer on a simple question - how to trade in this market? The price bounces from 600.00 support level. RSI confirms price reversal. MACD histogram is going to support a possible upward movement. If the market forms a new swing low, it can be used for drawing a new uptrend line. If so, buying from this support line will be logical. Also, we have to note that after a breakout above the downtrend line, the market confirmed that the downtrend was over. The market can start a new uptrend or move sideway. In both variants the current levels look interesting for opening long positions. Stop orders can be placed below the local swing low. Profit targets should be the resistance levels like 800.00, 1000.00, 1200.00 and higher.
Alternative variant: if the price drops below 565.00 level, we should be ready to see further falling to 500.00 and 400.00 support levels. This zone will be good for opening long positions based on confirmed reversal signals.
I think your'e making a big mistake with USD chart here... Btc chart paints completely different picture. In fact, 4 hr looks very bearish.
LucasMerkx
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@benwallace, The btc daily chart actually shows a very low RSI.
BenLearns
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@LucasMerkx, I mean the Dash/btc chart not the btc/usd chart. If btc rallies past this downtrend resistance line we will see all alt comparatives keep dropping. If Btc fails to break downtrend your Dash/btc may gain value (likely not) but the USD value will almost certainly drop... Which means this "Buy zone" for dash is irrelevant unless you don't care about the oppurtunity cost of being in bitcoin. If that is the case your risk reward for this USD trade would be pretty horrible IMO.
@DLavrov Could you please add Dash/BTC chart update too?
etheneo
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Your prediction have became invalid.
BMasked
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How do you determine what is called the Pivot point low? Is that the low of the candle which bounced from the uptrend line?
GoingDutch
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I understand you trade the charts Dimitry and I respect that. But what is your opinion on Dash? I'm not sure why but it feels like a boring project to me, no news for a very long time. I know they are around for a very long time but I just don't hear much about it :/ I have seen them sponsoring some shows but much else.
@GoingDutch, Dash is a good coin. It dropped from 1500 level and it can move back to this level also. Just we need more positive from Bitcoin and other markets. I think in long run this coin will be good. But it's only my opinion. I can be wrong.
belev.it
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@GoingDutch, for me Dash is the best coin out there. Dash funds its own growth and adoption and has a good team. It will keep growing and developing. Beside that: instant payments, low fees, privacy and so on.