Dash was one of the few cryptos that actually recovered quite quickly forming a nice bottom "V" pattern. So does this continue higher like bitcoin' did or do we get an ABC' correction pattern? Well it's not so clear but we are forming in the target area we had previously posted on. So if you were trading you could close out the trade here and either look for a correction back into the $550-$650 area and reversal or just hold for the next target level.
I personally am choosing to hold and will add to the trade and core position on a pullback. The reason is pretty straight forward. I'm in this at a much lower level. We were adding at the $300 and then again at the $605 level and have had a nice return so far, and not only do I like the coin, I like the way this has moved and it was one of only 6 coins yesterday to be in the green over a 24 hour period, and that's vs the top 100 coins. To me this screams the market likes the coin as well. So why bet against the market?
In addition I will add on a breakout of $850 if we do not get a correction as our cost average (even though up) provides us some cushion from a huge pullback.
Bottom line we have been touting this coin for over a month, and the market agrees. It is already trading near yesterdays top and unlike other coins surged after the correction to a new high. In my opinion this coin is headed higher from here.
I hate to use the term to the Moon because it's worn out by people who are only dreaming of short term gains. However I bought Dash at $11, and I am still adding last buy at $458. Dash is very different from all other coins. The team, the consensus framework, the tech that gives it true lightning speed. This coin has styled itself to be the VISA of Crypto. I believe them, and they have the tools to do it. I do swing trade about 10% of my dash holdings. But I'm HODL on this one. It has the potential to replace bitcoin and ether as the medium of exchange in the crypto world. It could very well be that in the not too distant future people enter and exit the crypto world to fiat via DASH and that trade pairs between all coins offer a DASH/XXXX coin pair. I often chuckle at the all the current buzz over Bitcoin in the media and with people new to crypto meanwhile quality Alts are smashing bitcoin in gains. Watch your hats, I think there is a real chance that the flippening people though was going to happen between Bitcoin and Ether turns out to be like this, Bitcoin retains it's gold status, DASH becomes the VISA of crypto, and Lisk becomes the new ether. Ether is not going away, but it's complex programming language is a barrier and also it's Achilles heel. This has already be demonstrated more than once.
goldbug1
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@6Shooter, Agree which is why I keep adding on dips and trading to add to the core position! My favorite coin at this point!
yvofox
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@6Shooter,
Ahhh man, There are a few people at work who talk about bitcoin all the time. (They are to scared of it and don't know anything about it). Both of them are are older (40ish and 64)
Another colleague of mine which is my age got me into crypto's around June. I started reading about it. Was scared to buy some btc. Then I got used to the price of BTC and wanted to buy. Guess what happened... the price went up like crazy, this happened multiple times. Instead I got into reading about all the big alts and saw them bleeding to a really low level. That's when I decided to put some decent amount of money in it (In the bank it isn't gaining interest). About 6 weeks later my investment is +200% profit. Slightly less now because of the pullback but what a great feature can this be.
I'm currently investing in IOTA in blocks ( @goldbug1 got me into that ;) ) It's not like a private coin but it could have a huge potential. If it gets enlisted on other exchanges. There will be more gains anyway.
People are so afraid of this new thing (when they only heard of BTC). (Some even call it: Baked air xD).
So much potential!!!
6Shooter
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@yvofox, Ha, Ha - I'm a techie and an adventurer by nature so crypto was a natural for me to get into. I'm 67 and I've been teaching young folks (my adult children, and friends) about crypto for over 2 years as well as a number of friends over 50. Admittedly I"ve had to lead them every step of the way and for one or two I even have to do their trades for them because they are either afraid or just can't deal with the tech of it. All of them are absolutely delighted with their results. Especially those older ones whose idea of investing for gain was a CD, or money market fund. Taking a very small portion of their savings and putting it into solid cryptos has given them gains far in excess of the entire rest of their portfolios. I've had offers of payment by others for me to help them but I don't want the hassle. I'm retired, I help the family out of love and for the fun. However, that bottle of 18yr old Glenmorangie was not a bad gesture of appreciation.
yvofox
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@6Shooter,
Well I'm pleased to see that a few of the "more matured" folks ;) get the idea of this crazy new world. You did good by getting into crypto that early for sure.
I have known about bitcoin from the beginning but it was all new and just sounded crazy around my age of drinking every weekend and having a good time.
Luckily I was and still am very good in saving money. Which made it posibble for me to invest some good money in it. There is the chance of losing a lot of it in this world but as I see it: This is high-end stuff. I know my way around computers and I am a bit of techie aswell. Mostly in Mechanics (saves a lot on my car repairs I do on my own, and it did save me a lot of money by completely rebuilding my engine from my motorbike :D )
-If you're willing to learn new things instead of being stuck behind netflix all the time, you can make it far in this world ;)
6Shooter
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@yvofox, I started with hanging around with my buddies and we built fast cars in the 60s. My favorite was a 1969 Mustang Mach I with a highly custom 351 Cleveland engine, and many other goodies. I had a few boats, snowmobiles, trucks, and motorcycles too. My favorite bike of them all was a 1974 Kawasaki Z1 900cc that I hopped up. I liked to hang out in the pits with Top Fuel Dragsters and Funny Cars. I was in the custom motorcycle and van conversion business in the 70s. I played with anything that had an engine on it from boats to airplanes. Loved to fly planes and parachute too. Then did various other stuff until the mid 80s when I got the computer bug. From there it was light programming, systems analysis, and then project management for a very large enterprise. For me life has to be about adventure, I get bored far too easily. So at my age, crypto was a natural since I've gotten less able to do the physical stuff but I can still learn something new.
johnhawkk
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@6Shooter, You sound like an awsome guy. I'm 65 and I agree wholeheartedly. I've rode harley's, climbed the Himilayas, sailed boats, took up the piano at 59 and a million other things. When you quit learning you get old. Its a state of mind. Its next to impossible to edgeamatce my old friends to crypto and even my son is very skeptical. But I believe in it and I don't waste time watching TV, I watch you tube vids on how to learn to trade and invest because I started getting into it heavy in June and its a learning curve. Learning is fun! One guy I watch is Data Dash, a young dude who is way above his age in knowledge of cryptocurrencies. Last night he had a live stream and he had this music in the background which was amazing. A millennial jazz band called The Midnight. They have a channel on You Tube. So I got something else besides trading ideas lol. Cheers! Johnhawkk
yvofox
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@johnhawkk,
Thanks John for the compliment :) , Looks like you managed to live a good life, I guess once you start to do rngine rebuilds you just want to get more out of it haha :P. I check out sometimes Datadash aswell, I like boxmining aswell, he comes up with new interesting crypto's and tells about the tech behind it. Recently I watched some world cryptonetwork on youtube but that's more about praising btc and is the only one. That tech is already old and the whole blockstream management behind it doesn't want to upgrade it.
If you like modern Jazz/lounge. You could try Quantic ;)
yvofox
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@yvofox,
Devide this post over these 2 comments. I was reading them as one person instead of 2. Almost 6 a.m. Here :')
6Shooter
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@johnhawkk, @yvofox, I totally agree. Johnhawkk sounds like you know how to live life! I took the first dozen years out of high school to explore the world and follow all my dreams of doing stuff. Agent Orange finally caught up with me the last few years so I've had to be much less physically active. I never got close to the Himalayas, highest peak I"ve ever been on was the Zugspitze at just over 9,700ft. What a view down into Austria and the Eibsee. The ascent via the valley of hell was fun. I hunted chamois and red deer on the Austrian side of the mountain and enjoyed snow skiing many times on the glacier. I lived not far away just outside Munich for a couple of years while working for NSA in the early 70s. Now I'm an expat and no longer an American Citizen. I live very near the Mediterranean Sea and I love spending time on the beach. I've never sailed, although I always found the idea very attractive, I love the water. My favorite crypto youtubers are Coin Mastery, Ivan on Tech, and to a lesser extent Tone Vays he's a great trader but very Bitcoin centric.