Time to DASH

in #cryptocurrency7 years ago


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DASH:BTC - Day Trade

DASH:BTC

daily

Short term trade looking for approximately 5% gains. Dash on the daily time frame, like all cryptos took a beating but for 3 days has managed to hold the pivot as support and recently setting a higher high after the steep decline. That steep decline is yet again a v bottom, and now being back tested. There is a possibility however that an oblong Head and Shoulders pattern forms and the trade here is to grab any gains off the right shoulder and continue to hold if the formation is negated with a break higher.

1 note - in a broader sense, DASH has managed to maintain this upper range and do some longer term consolidation, this would appear as a bull flag on the weekly chart (it's possible to have more gains than just 5% but we will stay modest).

Screenshot 2017-09-07 12.29.40.png

4 hour

On the 4 hour time frame we see some bullish moving average crosses and the price of DASH:BTC has bounced off of S1 pivot support during low volume consolidation. This is indicates fewer sellers and fewer buyers - dash is very illiquid right now. The upside target is a retest of the pivot, approximately 0.079 btc and on volume a retest of the previous pivot area 0.082 btc

Screenshot 2017-09-07 12.30.01.png

1 hour

The one hour time frame is what caught my attention with the obvious inver H&S pattern with a break above the neckline that is now being backtested.

Screenshot 2017-09-07 12.30.34.png

TRADE: Take a position here, set 1-2% stoploss or according to your risk tolerance

ALTERNATIVE: Scale half a position here, read to sell if we drop below the neckline and add on a breakout.

RISK TRADE: It is a bit of a risk trade.

Previous Articles:
Trading Vs. Investing
Bitcoin
Weekly Overview
ETHUSD
bullish setups

Follow at your own risk, Not a financial adviser, understand the risks associated with trading and investing. Manage your own Risk - in other words you could lose it all and I could give a fuck.

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🤔 I love your page, you got yourself a new friend 😂👍😎

Want to make profits? Trade long X100 btc/usd or dash/btc on bitmex!
https://www.bitmex.com/register/HJfZyC

ya man i just did a read through on BITMEX and contract swaps and there is a lot going on with futures trading and i personally feel they are lacking information such as contango vs. backwardation - so be careful - if the service is lacking in education is it any good haha.

thanks, I will look into this but i really dont think most people should have access to this kind of leverage, good way to get wiped out.

I personally use whaleclub for leverage, on crypto or fiats even. Only when I'm bored and only with like 50 bucks. Can be extremely risky so I agree. But it is fun here and there! haha.

Im gonna try to day trade a bit, thanks for the charts

Im around so you can ping me, i was in last night and didnt take profits cause greedy but the pullback overnight didnt do damage so im going to see through my original analysis here

Thanks for the availability, really nice from you

@satchmo got you a $1.31 @minnowbooster upgoat, nice!
@satchmo got you a $1.31 @minnowbooster upgoat, nice! (Image: pixabay.com)


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Please contact me to email: [email protected]. Looking for crypto writers.

what are the terms, you can find me on steemitchat or discord as @satchmo rather than email.

Dash, Monero, CloakCoin to the moon!