Dash / BitcoinLong
DASH preparing for break through overhead resistance
Watching this bullish pennant forming on the DASHBTC daily chart. This could either be in the next 24 hours or maybe one more retest at the lower dotted red line before going up.
Target of an upside break from this pennant is 0.026. This is based on the height of the flagpole formed around March 12.
Idea would be invalidated on a high volume break down below the dotted red line.
DASH performed in a similarly predictable manner after forming a bull flag around 12 Feb. This then broke to the upside to form the current pattern.
Overhead resistance at around 0.0238 may limit this upside break so keep an eye on that if entering a trade here. Successful break through this resistance may see it retested as a support later on, potentially launching DASH further on up. Dashed purple arrows are an indication of what this may look like.
Expecting this pattern to complete by the end of March, faster than the previous bull flag. Am watching movement of both LTC and BTC as potential clues as to whether this breaks up or down.
Target of an upside break from this pennant is 0.026. This is based on the height of the flagpole formed around March 12.
Idea would be invalidated on a high volume break down below the dotted red line.
DASH performed in a similarly predictable manner after forming a bull flag around 12 Feb. This then broke to the upside to form the current pattern.
Overhead resistance at around 0.0238 may limit this upside break so keep an eye on that if entering a trade here. Successful break through this resistance may see it retested as a support later on, potentially launching DASH further on up. Dashed purple arrows are an indication of what this may look like.
Expecting this pattern to complete by the end of March, faster than the previous bull flag. Am watching movement of both LTC and BTC as potential clues as to whether this breaks up or down.
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