Hi Traders!
Today we are looking at cryptocurrency Dash. We chose it deliberately because we see an interesting opportunity in it.
We can read a clear bounce (impulse) on the chart, that came last month. Since then, Dash has been moving in the channel. Dynamics, growth and angle which we grew under are much steeper than the decline. In addition, this decline is in the channel. We would be able to annotate the whole decline as ABC correction that could be finishing right now, why?
1. We are currently at 0.786 Fibonacci level of all the growth
2. The bottom edge of the triangle
3. There was already a smaller bounce-off
4. RSI is in the extreme zone
This is a watch zone where we keep an eye on how charts behave. If we break downwards, it's very bad. We are currently on a potential bottom, which may represent a good opportunity to buy.
May the crypto be with you!
Today we are looking at cryptocurrency Dash. We chose it deliberately because we see an interesting opportunity in it.
We can read a clear bounce (impulse) on the chart, that came last month. Since then, Dash has been moving in the channel. Dynamics, growth and angle which we grew under are much steeper than the decline. In addition, this decline is in the channel. We would be able to annotate the whole decline as ABC correction that could be finishing right now, why?
1. We are currently at 0.786 Fibonacci level of all the growth
2. The bottom edge of the triangle
3. There was already a smaller bounce-off
4. RSI is in the extreme zone
This is a watch zone where we keep an eye on how charts behave. If we break downwards, it's very bad. We are currently on a potential bottom, which may represent a good opportunity to buy.
May the crypto be with you!