Technical Analysis for DSHBTC for 6th October 2021
DASH Under Pressure Near Multi-Month Lows as Bitcoin Runs Riot
Past Performance of DASH/BTC
Dash fundamentals could be positive movers but aren't enough to stem advancing Bitcoin bulls.
At the time of writing, DASH is dangling at the edge but stable on the last trading day. If BTC bulls are steady, DASH might fall below a critical multi-month support level at 0.0035 BTC.
What to Expect of DASH/BTC
DASH/BTC is 'bearish' as BTC bulls double down, pressing higher.
This is at the expense of DASH, whose prices are now tracking lower below the middle BB, bearish with relatively low trading volumes.
If DASH unwinds losses at 0.0035 BTC, the double bar bullish pattern (or any other reversal pattern) must have considerably high trading volumes, ideally above 0.0040 BTC.
This might be the building base for 0.0040—or better in the medium term.
DASH/BTC Technical Analysis
DASH holders bear the brunt of resurgent BTC bulls reading from the performance in the daily chart.
Losses below 0.0035—the primary support line—might see DASH dip to 0.0025 BTC—February 2021 lows.
Conversely, gains above 0.0038 BTC may build the momentum for a moon swing towards 0.0040 and the middle BB in the medium term.
Resistance level to watch out: 0.0040 BTC
Support level to watch out: 0.0035 BTC
Disclaimer: Opinions expressed are not investment advice. Do your research.