Technical Analysis Of DASH Cryptocurrency - The Merkle

chatterbox

chatterbox

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Technical Analysis Of DASH Cryptocurrency
"Dash, formerly known as DarkCoin, has been in fairly consistent downtrend since hitting a high of 0.025 on the 25th of March. When looking at the 2-hour chart, one price pivot stands out like a sore thumb, the 0.01835 area. This area has been used twice as resistance between 21st-22nd of March, twice as support between the 27th-28th of March, two more times as resistance between the 30th of March and the 1st of April. This price pivot has been respect on six separate occasions, and will most likely act as resistance in the event of a bull market."​
Dash-April-19-1024x454.png

Dash-April-19-22-1024x456.png


Saw this and figured I share.
 
Sir Alpha_goy said:
Oh and our current trending looks like this:

bear%20trap1.jpgd4448682-d2d4-486d-9866-776a511bc0f5Larger.jpg
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Actually it does not. There is overall still a positive outlook. If you are only looking at day to day then your looking too little data points.

Edit: I'm still seeing positive pushback on the price despite the many cashing on on their profits during this time. I feel the price retracement was natural as the market was trying to find a new equilibrium.

Nothing that has happened in the past 60 days indicates at this time that this coin will do nothing but great things down the road. Development is still continuing and innovative. Stagnation is the death of other coins and I don't see this one slowing down yet. The only thing slowing is the sell pressure.
 
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Sir Alpha_goy said:
I think we are on the same page.

I use the picture below not to predict what DASH will do but to illustrate what a Bear Trap looks like.

z1.jpg


Note the location of the "Bear trap".


Read more: http://www.investopedia.com/terms/b/beartrap.asp#ixzz3Y5WOZCgt

That is potentially what we are seeing in the charts you posted with DASH.

And for the record I am always zooming in and out to the min and the max resolution when I analyze.

Helps spot fractals.

:cool:
Click to expand...
People pull this stupid graphic out every time with any successful coin and it's never correct. I could post the same graphic and use it as evidence this is not a bear trap.
 
BiteMyShinyMetalAss said:
Any new TA?
Click to expand...
Here's a new TA by a different person IIRC

Dash Technical Analysis for 1/5/2015 – Welcoming May With a Collapse! by Nikhil Gupta

Dash looks all set to head lower but even then, the trading community should not build fresh short positions at current levels. Market participants looking to create bearish trades must wait for a price rise to minimize the risks while those sitting on profits may consider booking out partially. I am expecting Dash to touch 0.0110BTC in this month. Buying should be postponed until a strong base is established.
​
My Take:
What I have viewed from my analysis is that a large volume was short-sold. This could have been coincidence with the rise in Bitcoin prices as the USD value has fallen significantly less than the value in BTC. The market is strong still but what I see is man people waiting to put up large buy orders at the current time until stability in price is found once again.

People could have wanted to cash out at a nice profit or they could have been moving positions. I'd put my money that their is uncertainty of the market price. It's like a roller coaster gaining and losing momentum.
 
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