Once again, it’s a red-hot market stretch, and
$DASH is making the crowd restless as it just drifts around the $31 mark, inch by inch. Guys keep asking me whether this mummy is going to PUMP or whether it’s just getting ready to make a dump straight into the ground?
In reality, if you look at the price board, this thing is currently in an extremely uncomfortable state. Let’s closely examine the so-called technical data to see what the “whales” are calculating:
🔹 On the 15-minute chart, the price is hovering around MA(20) at 31.16 and EMA(9) at 31.10. An endless standoff— the sellers are trying to push the price down, but the buyers still refuse to let go.
🔹 Switching to the 1-hour timeframe, the picture looks a bit more negative: MA(20) is acting as resistance at 31.31, above the current price. This shows that the 31.30 zone is a very unpleasant lid. If it can’t be broken through with heavy volume, there’s a good chance
$DASH will continue probing for the bottom.
For me personally, this isn’t the time to “all-in” or dream of getting rich overnight. The market needs patience, not blind entries. My setup for this move is as follows:
📌 Position: Light SHORT when price hits resistance.
📌 Entry: Watch the 31.25 – 31.35 zone.
📌 TP (Take Profit): 30.50 – 30.20.
📌 SL (Stop Loss): 31.65 (If the 1-hour candle closes above this level, I’ll admit I’m wrong and exit the position immediately).
I’m choosing a downside strategy because the pressure from MA(20) on the 1-hour chart is still weighing on the price. However, if Bitcoin has a strong fluctuation, any technical scenario can be broken—so don’t forget to set an SL for every position.
And you guys, are you holding LONG, or are you waiting to SHORT this coin?
#Crypto #Trading #Analysis
Note: This is my personal perspective, not investment advice. Trading always involves risk (DYOR).