Cryptocurrency
by Seth Parker on September 10, 2018

Dash Analysis – Much better than Bitcoin

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. „

Dash chart

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.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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