Keeping up with the market trend, DASH has lost greatly since its ALL-TIME-HIGH at $1551usd.
The market is slightly looking at two different directions, THE BEARISH and THE BULLISH. Considering the BEARISH move a pattern called THE PENNANT FLAG PATTERN has been spotten on the 4 hours time frame.
With a whole of the bearish pennant flag pattern violations, this pattern has a 39% probability of playing out and reaching its target only when price breaks out to the down side and closes below it. This give a signal to be ready to buy DASH dip. The breakout to the up side or the down side is only determined only when price close outside any of these directions.
NOTE: check the previous chart on correlated chart pattern to see the pattern violation( check: https://ci.covesting.io/tradeidea/eosbtceth-and-ltc-correlated-chart). if followed and it breaks to the down side, the targets are shown below in the chart:
THE BULLISH SIGNAL
The ICHIMUKO settings
Using the ICHIMUKO metrics Tenkan(T), KIJUN(K), CLOUD(senkou A&B) and the LAGGING SPAN. Using the doubled cloud settings, Still the same set up cloud resistance and possible EDGE TO EDGE TRADE. High probability trade settings, when price breaks into the cloud and closes inside it there is high probabilty that will touch the upper cloud(serving as a resistance) also supported with the TK bullish cross.
Technicals suggests that traders should wait for either the breakout of the pennat flag pattern ot the cloud resistance before taking a position.
SELL:$288 up to $300
NOTE: adventurous traders should use tight stop loss.
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.