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Which scenario is true for DASH

BINANCE:DASHBTC   Dash / Bitcoin
Hello, Traders!
Monfex is at your service and today we overview DASH/BTC.

On the chart we see a large rising channel or a bear flag . The price now near the channel support and has two scenarios:

  • 1 there will be a breakdown of the flag down and for greater certainty we will consider the level of the red line near 0.00808. As goals, we take Fibonacci levels of 100% (previous low), 127.20% and 161.80%.

  • 2 a rebound from the support line up by the channel and the first target is the middle line of this channel near 38.2% and 23.6% Fibonacci. The green horizontal line as the flagship of the start of a bullish trend . Perhaps this is the second(2) Elliott Wave (12345).

In conclusion, at the moment we are closer to the bearish trend option, but you need to see at chart below, by DASH/USD there is a significant pre-reference to the begin of the bull trend.

Share your thoughts, ideas about the market under the chart.

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