Altcoin Trade Recommendation: DASH/BTC Range Near Support
The DASH/BTC pair has been in a downtrend since March this year, after the pair reached 0.09. Bears sent it back to 0.03405020 where it appears to have established critical support. Today, the market is on the verge of reclaimed another important support at 0.0455. Technical indicators reveal that the pair is gathering momentum for its next move up. While the market’s daily chart doesn’t show any recognizable bullish pattern, there’s possibility to earn profits by trading the range.
The strategy is to buy between 0.0455 and 0.055. We have resistances at 0.060 and 0.070. The top end of the range is 0.080, and that is the target for this trade.
Summary of Strategy
Buy: between 0.0455 and 0.055
Stop: A move below 0.0455 invalidates this trade call.
Disclaimer: The writer owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
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