This is extremely promising market structure for DASH, very well defined highs that have been hit multiple times. I could see a serious run attempt at 0.1 in the coming months if it continues to provide. I'm a bit late on my timing, I would have liked to publish this chart around 0.0012, but as long as it continues to make higher lows on the high timeframes it should be setup for a very nice run.
3 years of consolidation bewteen 0.005 and 0.03, the trend is sideways but with an upward bias.
I'd keep an eye on this one.
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Coming up into minor resistance in the DASH/BTC pair. USD is clearly above all time highs, thanks to BTC strength. Bitcoin continues to spend it's time over $1000 and a rising tide raises all ships.
Will be interesting to see how this one eventually turns out. Still on the sidelines, not participating in this one.
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Potential update to this idea. It is also possible DASH/BTC pair could fail to make new highs (again) and complete a move similar to Ethereum where it rallied with bitcoin strength and set signifigant new ETHUSD highs, while the ETHBTC ratio failed to make new highs and brought it down. Now that being said
Both are about 40% above their previous signifigant USD highs, so if we get a repeat of this comparative fractal it would be here. Just random thoughts.
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Testing the orderblock at the ATH for the DASH/BTC pair, nice resistance here around 0.027. 3 drive rising wedge on the hourly, it will either pop out of the top and break the ATH, or breakdown and fall back to support around 0.01855 and consolidate more while the broader outlook shows itself. Amazed it's runup like this, glad to see it bearing fruit.
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Time to start scaling out of longs, half out half for possible USD target of $55 or so. Would equate to a 1.618 extension on the DASH/BTC pair at 0.044, and $55 USD price target on the 3.618 extension.
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Wow, gigantic wicks and margin calls. Close everything, this is the top.
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kenzboard
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very nice. I see that maidsafe is about 50-66% through similar behavior to the dash chart (with 2 major tops and 2 major bottoms).
kenzboard
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@kenzboard, ETHBTC daily chart reminds me of BTC in 11/2015...after it showed a signal of strength (Wyckoff logic). waiting for a throwback and accumulation. potential breakout in 5/2017.
WyckoffMode
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I would agree it's time to close. Thanks for keeping us updated sir.