DASH - Doing Everything Right and the Market Loves It!
Mis à jour
As you know DASH' is one of my top favorite coins and it is paying off nicely but there is still MUCH ROOM TO GO, and they have "strategery"!
While other coin groups are arguing who is #1, who has the right to the throne, DASH' is silently mobilizing and doing everything right! Now I'm sure I will get the "it's not truly decentralized" comment for sure. So let me address it right off the bat! If the majority of BTC' is mined in China is it truly decentralized? Let's add to that that 4 mining pools make up more than 62% of the block chain mining, and 10 make up about almost 90% of the mining. Ok so pools are made up of thousands of miners all sharing in the spoils, but that is hardly decentralization and what Satoshi Nakamoto envisioned for a decentralized currency. So I do not care that DASH' is allegedly more centralized. I do care that they are taking the steps to be the best! With proof of works!
It starts with MARKETING, the fact they are not worried about Roger Ver, Charlie, and are not comparing cyryptos to pornography (ok maybe not fair but golly really?). They are not worried about anyone but DASH' being the best coin out there! In addition they are going after specific industries like the marijuana industry in the US, as well as setting up charities supporting everything from abused women, Hurricane relief in Texas, and helping bring stability in destabilized countries. I mean why most coins like XMR' are focused on being secretive for black market activities like drugs and trading women, DASH' is focused on doing charity work! But to the charts! Yes trading women happens on the black market!
In my opinion DASH' is clearly not finished running. Now going back to when it was 10 cents and trying to figure out the Elliott wave chart is, well, tedious to state the least. So I narrowed it down to where we are just entering wave III of a longer term trend. YES MY FAVORITE WAVE! And though we have nearly doubled there is still a lot of room to grow. What number do I like for a target price of wave III? Well the $1280 level seems to line up nicely with the 5.618 extension of wave II and the 3.618 extension of the corrective sequence of wave 2 (both shown on the left chart). This has continued to remain in the bullish trend according to the RSI as it only briefly dipped below 40. Love it!
On the right I broke it down even further into fractals. You can see more clearly wave 2 on this chart, and we have quickly started to climb again. Look at the RSI on the 30 minute chart. Mind boggling to say the least it is holding 45 quite well (based on 8 hours). We have completed a nice 5 wave fractal BUT I want to warn everyone here we could see a pullback. Since 353 corrective sequences are not typical I left it out for clarity but keep in mind we could correct back to the $450 level. But I think this is much less probable then we are starting wave iii or maybe one more (a)(b)(c) correction to the $510-$545 level. So we must be careful as trading corrections is dangerous as I mention time and time again.
With that said it is most probable is we go higher from here after a slight pullback from $600. A very nice rounded bottom is forming which is a bullish sign and many times leads to the cup and handle pattern. Remember it's not the pattern that's important it's the TREND! This formation may provide a nice trade setup for a target in the $750-$800 range or wave iii of the mini cycle. This also is inline with the 1.618 extension from wave 2 shown on the left. This is a great trade setup when you are trading a triple third wave in all cycles! I'll be looking for the breakout of $600 for a trade and add to the position if we dip below $475.
DASH' is a marketing machine and doing all the right things I want as an investor. Going after merchants, specific industries and also showing the softer side in doing charity work. Look for DASH' to challenge BCH' for market cap! YES I SAID IT!
While other coin groups are arguing who is #1, who has the right to the throne, DASH' is silently mobilizing and doing everything right! Now I'm sure I will get the "it's not truly decentralized" comment for sure. So let me address it right off the bat! If the majority of BTC' is mined in China is it truly decentralized? Let's add to that that 4 mining pools make up more than 62% of the block chain mining, and 10 make up about almost 90% of the mining. Ok so pools are made up of thousands of miners all sharing in the spoils, but that is hardly decentralization and what Satoshi Nakamoto envisioned for a decentralized currency. So I do not care that DASH' is allegedly more centralized. I do care that they are taking the steps to be the best! With proof of works!
It starts with MARKETING, the fact they are not worried about Roger Ver, Charlie, and are not comparing cyryptos to pornography (ok maybe not fair but golly really?). They are not worried about anyone but DASH' being the best coin out there! In addition they are going after specific industries like the marijuana industry in the US, as well as setting up charities supporting everything from abused women, Hurricane relief in Texas, and helping bring stability in destabilized countries. I mean why most coins like XMR' are focused on being secretive for black market activities like drugs and trading women, DASH' is focused on doing charity work! But to the charts! Yes trading women happens on the black market!
In my opinion DASH' is clearly not finished running. Now going back to when it was 10 cents and trying to figure out the Elliott wave chart is, well, tedious to state the least. So I narrowed it down to where we are just entering wave III of a longer term trend. YES MY FAVORITE WAVE! And though we have nearly doubled there is still a lot of room to grow. What number do I like for a target price of wave III? Well the $1280 level seems to line up nicely with the 5.618 extension of wave II and the 3.618 extension of the corrective sequence of wave 2 (both shown on the left chart). This has continued to remain in the bullish trend according to the RSI as it only briefly dipped below 40. Love it!
On the right I broke it down even further into fractals. You can see more clearly wave 2 on this chart, and we have quickly started to climb again. Look at the RSI on the 30 minute chart. Mind boggling to say the least it is holding 45 quite well (based on 8 hours). We have completed a nice 5 wave fractal BUT I want to warn everyone here we could see a pullback. Since 353 corrective sequences are not typical I left it out for clarity but keep in mind we could correct back to the $450 level. But I think this is much less probable then we are starting wave iii or maybe one more (a)(b)(c) correction to the $510-$545 level. So we must be careful as trading corrections is dangerous as I mention time and time again.
With that said it is most probable is we go higher from here after a slight pullback from $600. A very nice rounded bottom is forming which is a bullish sign and many times leads to the cup and handle pattern. Remember it's not the pattern that's important it's the TREND! This formation may provide a nice trade setup for a target in the $750-$800 range or wave iii of the mini cycle. This also is inline with the 1.618 extension from wave 2 shown on the left. This is a great trade setup when you are trading a triple third wave in all cycles! I'll be looking for the breakout of $600 for a trade and add to the position if we dip below $475.
DASH' is a marketing machine and doing all the right things I want as an investor. Going after merchants, specific industries and also showing the softer side in doing charity work. Look for DASH' to challenge BCH' for market cap! YES I SAID IT!
Note
God Bless everyone during the Holidays! and Happy Thanksgiving to those in the US!Go Buckeyes!
Note
I did a long term count and it is very similar to BTC. Note
Alternate count. 
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