Dash Retrace Hits Support, Prices Likely To Bounce Full Analysis

Dash (DASHBTC) found support when prices hit MA200 (0.008845).
Also, a long-wick candle was printed that hit the 0.786 Fib. retracement support relative to the last bullish wave, giving us another signal pointing to the end of the retrace.

If the retrace is over, what happens next?

First, in order to be sure, we need a close above EMA10 (0.009064) on the daily timeframe to confirm DASHBTC's bullish potential.

As soon as this signal is confirmed we expect prices to bounce (green/red arrow). If MA200/EMA10 can't be conquered, then we expect a drop (2).

The 0.007590 / 0.007850 prince range can work as "strong support".
Each time this level is hit we can expect a bounce.

• Below "strong support" prices can easily move lower.
  
• Above "strong support" the growth can easily continue.
  

We are bullish long-term on Dash Network.

Note: Even if prices move below "strong support", we remain bullish as long as the 26-Dec. '19 low at 0.005312 remains intact.

Thanks a lot for reading and for your continued support.

This is Alan Masters 🕉.

I LOVE YOU!❤️

Namaste.

Commentaire: