Time to short DASH/USDT
After a wonderful gain ( even beyond my expectation DASH/USDT) it is time for DASH to cool down a bit. Currently, at the 4H timeframe, we can see that this opportunity is forming.
Set Up
It looks like a potential double top is forming. This is also supported by the decrease in RSI and the 1st divergence between RSI and price while the RSI indicator is in the overbought region (Set above 80 for crypto)
What can happen next?:
We could see a proper formation of a double top, or even a double divergence when the price will increase further to around $59 (resistance cloud). At the same time, the volume should go down.
Position:
Enter Short: $53.60
Take Profit: $49.25
Stop Loss: will depend on the second top of the current move.
Set Up
It looks like a potential double top is forming. This is also supported by the decrease in RSI and the 1st divergence between RSI and price while the RSI indicator is in the overbought region (Set above 80 for crypto)
What can happen next?:
We could see a proper formation of a double top, or even a double divergence when the price will increase further to around $59 (resistance cloud). At the same time, the volume should go down.
Position:
Enter Short: $53.60
Take Profit: $49.25
Stop Loss: will depend on the second top of the current move.
BUY - SELL - REPEAT
(c) WunderTrading
(c) WunderTrading
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