Last crypto starting with the letter D today is Dash. Vast majority of our analysis about this instrument were spot on. Till now. Our last piece about this crypto was pessimistic but the current price is showing us that we were simply wrong. Well, sometimes it is happening and you just have to deal with that. This is what we wrote on the 22nd of August:
“Currently, the price is up almost 6% but it does not change our negative outlook. In my opinion, as long as we stay below the blue line, the sentiment is negative and we should experience a further decline towards the new mid-term lows. „
Since those words were written, the price managed to break two important resistances. First one was the mid-term down trendline and second one was the horizontal blue line mentioned above. What is more, the blue line was few days ago positively tested as a support. Currently, we do have a buy signal but the price is below an important resistance on the 220 USD (yellow). As long as we stay below, I would be careful with buying. After the breakout, yes, feel free to do that but as long, as we stay below, we still have some chances for a bearish bounce.