DASH/BTC Analysis August 10, 2017
DASH continues to show resiliency against Bitcoin, although we are at much lower levels than several weeks ago. Because of this, it looks as if we are trying to build up some type of accumulation phase, near the 0.058 level. Because of this, the market looks likely to continue to find buyers just below, and for those of you who are patient enough, you could add little bits to a position to take advantage of the longer-term move that could be trying to build up. Once we break above the 0.062 handle, the market should be free to go to the 0.069 level. Ultimately, the market should then break out for a longer-term move, but I think that short-term dips offer buying opportunities in a market that could be added to very slowly. This gives you an opportunity to build up a massive position over the longer term.
Buying dips in tiny increments allows you to write of the volatility, as it looks to me as if the DASH market is starting to find some stability against other currencies, so Bitcoin probably won’t be any different. Having said that, Bitcoin is favored and is by far the largest crypto currency, so it’s likely that the DASH/BTC pair may move a bit slowly, but that offers a nice investment situation instead of trying to ride volatile situations. Ultimately, I believe that the 0.056 level underneath is massively supportive, and if we were to break down below there, I would start to think that the market could go much lower. As long as we can stay above that area, I am a buyer and I feel that the upward momentum will eventually carry us and offer quite a bit of opportunity to build up a larger portfolio in tiny increments for extreme value.
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