Technical analysis: DASH is in Range bound but Resumption of uptrend is expected. In Daily chart , A hammer candlestick pattern is formed which is the first sign of the beginning a Bullish Trend. The price touched the strong downtrend line in Daily Chart. It is below the 21-Day WEMA which acts as a dynamic resistance. The RSI is at 46 and above a RSI support level .
Trading suggestion: Price is in the support zone (0.0643 to 0.0580), traders can set orders based on Price Action and expect to reach short-term targets.
.Beginning of entry zone (0.0643) .Ending of entry zone (0.0580)
Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Hammer" or "Trough", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons: (We have started to prepare these lessons in TradingView. If you want us to continue, give us feedbacks!)
TP1 HIT!! Trading suggestion: We have already opened Buy trades, based on Price Action, trade setup is drawn on the chart and shows entry and targets, the description can also be found below the image.
Midterm forecast: .There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 0.0643 would begin in Midterm. .Price may also reach 0.0643, if price reaches this level again, we may enter by Daily-Trading-Opportunities (Price Action). .We will close our open trades, if the level of 0.0643 is broken.
Technical analysis: Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 56.
Your charts are overload with info, not clear to read.
ForecastCity
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@vetec, Hi, thanks for feedback, let's make it clear, please highlight your questions.
chris_haze
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@ForecastCity, sometimes too much information is overwhelming. Due to the array of different skill/knowledge levels viewing your charts, it may be better to include less and allow those with questions to ask... Plus, the engagement will help generate more interest by others.
Great lesson in the additional comments and nice charting, though!
ForecastCity
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@chris_haze, I agree, but the request is not clear for me, at our point of view, the chart is abstract enough, it has just a trend line, an entry zone and some targets.
Dieter1983
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Please explain this for newbies see below? Buy right now or wait? Even if BTC/market is going down
@Dieter1983, We are Long on this pair. We had already placed Buy positions, if we had missed the first entry (after the Hammer at Feb 02), we would wait for the price to come into the Buy zone again, and after new confirmations, we would enter.
Dieter1983
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@ForecastCity, thanks. So you think it will go down. Ok now I follow. Will Keep An eye on it.