DASH is showing signs of a bottom.
Is it an interm bottom, or something better?
DASH has been the undisputed king of MasterNode coins for years. Because of that it often signals what is to be expected of the altcoin sector. We are only looking at the BTC pair as that’s all that matters for getting the best price when trying to accumulate enough for a node.
Chart #1 shows that when there is a long legged wick to the downside price almost always retests the bottom of the wick, and then turns up into a strong bounce or even bull market. That formation seems to be coming to completion.
Chart #2 shows that when price drops 63%, or greater, from the last swing high that a bounce and/or bull market is coming soon. The 2 structural bear markets both had a grand total of roughly 90% decline. The current conditions show that the current leg down is due for a bounce AND the structural bear market has almost finished it’s downward trend.
The question becomes, “now what?” It is very possible that the price could cut in half again. Or we could be on the cusp of a new bull market. That’s a lot of uncertainty.
The charts we reviewed are all the 1W time frame. On the 1D price needs to be breaking 0.0098 to begin leaving the sideways range it’s currently in. Bulls start getting curious at 0.00925 and 0.0098 respectively. Anything under 0.0085 will start to attract the bears again.