Dash Has Bottomed And It’s Turning Bullish As Expected
Hello Crypto traders!
Crypto market is in a massive rally, which is not a surprise, as we were expecting big moves, because Dash a.k.a. Digital Cash with ticker DSHUSD was forming an ending diagonal (wedge) pattern for the last year. On August 05 we actually spotted final stages of wave 5 of the wedge pattern within wave (C) on a daily chart, where we mentioned and highlighted that a strong bullish reversal may show up.
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As you can see today after 4 months, DSHUSD bounced perfectly as expected and it’s now sharply and impulsively recovering on a daily chart, out of a projected wedge pattern and back above important 44 level. So, with current ALTcoin dominance and ALTseason, bottom is most likely in place and we should be aware of more gains within a projected wave 3 of a five-wave bullish cycle, ideally back above 77 bullish confirmation level, just be aware of wave 4 correction before the uptrend for wave 5 resumes.
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For more analysis like this, you may want to watch below our latest recording of a live webinar streamed on Monday December 02 2024:
On the date of publication, Gregor Horvat did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.