Analysis of the DSHBTC pair. Up-to-date middle-term forecast for the DASH price. DSHBTC key levels and major prospects for the most popular altcoin.
In this post I applied the following tools: fundamental analysis, all-round market view, market balance level, volume profile, graphic analysis, trendline analysis, oscillators, candlestick pattern, the Kagi and the Tic-Tac-Toe charts.
By popular demand, today, I’m going to revise my DASH forecast and trading scenario for the DSHBTC pair. My last forecast for DASH was published as early as on August 30, and much has changed since then.
(DASHBTC current state as of 06.11.2018)
To be fair, I must note the last forecast worked out by 90%. The time of exiting the bearish channel and moving into the flat were accurately predicted. The only serious difference from the forecast is the market weakness, as the DSHBTC ticker failed to reach the zone marked.
Nevertheless, I’ll take this fact into account in my new Dash price forecast.
DASH fundamental analysis
Two months ago, I wrote that DASH was going to launch its own branded KRIP smartphone, with the originally installed applications to buy and exchange DASH among the users. In addition to the phone, it was announced that there would be Wi Fi routers capable of mining Dash. A little later, in September, the testing of DashText was started; it is the service that provides DASH exchanging without connection to the Internet.
It is not by chance that Venezuela was chosen as the country to test the new technology. It is one of the most crypto-friendly countries, which is not 100% covered with the Internet network but already has its own local cryptocurrency. In this situation, text messages would be solution that would provide cryptocurrency transfers all over the country.
As it is clear from the map above, the world isn’t equally covered by the Internet; there are still some regions, not connected to the network. Moreover, the Internet access costs are very different around the world, so many just cannot afford to connect to the Internet. The technology of cryptocurrency transfers by means of text messages would really help to make the cryptocurrencies accessible for the majority of common people.
DSHBTC technical analysis
Unfortunately, there isn’t much positive, resulted from all the above innovations, in the monthly DSHBTC price chart. You see that the DASHBTC ticker closed the previous months very bad, compared to September. The long black body broke through the low, sending a bearish signal.
On the given scope, the current short-term growth looks like just a bearish rebound in the long bearish correction.
As usual, in the monthly chart, I’ll mark the market point of control, indicated by the volume profile, with the red line.
Keltner channel’s borders and its middle line are marked with the purple lines.
Uncovered lows and highs of the past few months are marked with the orange and green lines accordingly.
There are not many signals in the weekly Dash price chart above. The only clear thing here is an emerging sideways trend, followed the bearish trend. The borders of the forming channel are quite clear; the bottom border is at 0.021 BTC, the top one is at 0.033 BTC. Currently, the DASH ticker is at the channel’s bottom border; and so it shouldn’t be difficult for the market to move upwards.
Oscillators indirectly confirm the up-move; however, the indicators themselves left the oversold zone long ago; the growth potential is not that high.
The daily DSHBTC price chart doesn’t provide a clear picture. The market looks vague and dull. This state is typical for a sluggish sideways trend, and so, DASH will hardly surge up to the moon. Based on the current situation, most of the price swings are going to be in the lower part of the channel, not exceeding the previous month, between 0.023 BTC and 0.028 BTC.
In the DASH 12H chart, there are first signs of the overbought; which may suggest a short correction, following the recent short rise. Volume profile is indicating a slight increase that is fading out currently.
The 12-hour Kagi chart is also indicating opened resistance levels to be more numerous than the supports; in general, it suggests that Dash to Bitcoin will hardly grow higher than the above level; before it moves on, there must be more strong resistance levels from below.
The Tic-Tac-Toe chart is indicating that the triangle formed has been broken out downside. The target, equal to the pattern base, fits in the support level at about 0.021 BTC. The trajectory of the DSHBTC course looks like an upside down cup; which is not a good signal for bulls. The DSHBTC ticker is likely to retest the bottom.
Up-to-date DASH price forecast and DSH BTC trading ideas
The most likely scenario for the DSH BTC pair through the end of 2018 suggests an ascending sideways trend in the range of 0.023 -0.028. This accumulation should result in a bearish flag with the target as low as the flagpole, at about 0.021 BTC.
The bullish scenario, suggesting the Dash moving higher than the above marked levels is possible, but in the present context, it is less likely.
That is my DSHBTC trading scenario for the next two weeks. Read my crypto forecasts in the trader blog. Go on following the cryptocurrency rates and staying informed on the cryptocurrency market. I wish my crypto price forecasts are useful for you!
I wish you good luck and good profits!
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Price chart of DSHBTC in real time mode
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