Dash's Double Highs & Choppy Trends (Short then Long)
I'm holding off on Dash right now after it's recent surge. Dash has seen 3 great triangle shapes where there has been a surge in price levels followed by a slow decline. On assessment I believe we're now at the top of the biggest triangle (C).
Triangles A, B and C all demonstrate the same characteristics. Two clear higher high spikes, followed by a downtrend, finally touching a 3rd time on a pre-established support level before breaking the downtrend. Often, you'll observe a brief break in the downtrend only to continue down a little further. Triangle A was followed by a period of choppy upward sloping trends, whilst triangle B was quickly followed up by C. Hard to predict if we'll see more choppiness after C or straight on to a fourth triangle. I'd say there's a decent probability in following up with a fourth triangle due to the increasing upturn in crypto markets.
I'm going to await for price levels to fall to support line on C, before entering a long trade. I'd expect this to come around February 2018. A break on the upper edge of C would call for a reassessment and potential for considering entry. Which wouldn't be a complete surprise considering recent gains in crypto!
Triangles A, B and C all demonstrate the same characteristics. Two clear higher high spikes, followed by a downtrend, finally touching a 3rd time on a pre-established support level before breaking the downtrend. Often, you'll observe a brief break in the downtrend only to continue down a little further. Triangle A was followed by a period of choppy upward sloping trends, whilst triangle B was quickly followed up by C. Hard to predict if we'll see more choppiness after C or straight on to a fourth triangle. I'd say there's a decent probability in following up with a fourth triangle due to the increasing upturn in crypto markets.
I'm going to await for price levels to fall to support line on C, before entering a long trade. I'd expect this to come around February 2018. A break on the upper edge of C would call for a reassessment and potential for considering entry. Which wouldn't be a complete surprise considering recent gains in crypto!
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