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DASH (DASH/BTC) marching on year high again after three days of stagnant. The last price on Poloniex is at Ƀ0.02268998 a +8% spike in 24H. The total volume for the day (up to 12:24 UTC) stands at credible Ƀ1140 not too far away from the full day volume of Ƀ1885 on yesterday. IN USD term, DASH is priced at $26.06 (+10.73%) in LiveCoin exchange. The spike made DASH the 5th largest cryptocurrency surpassed Monero(XMR) based coinmarketcap.com. The total market cap listed at $190,360,530 compared to Monero who total cap stands at $167,251,292 after another dash of -6.97% today.

DASH (DASH/BTC) and Bitcoin chart
DASH/BTC and BTC daily chart. Data source:Poloniex

Important DASH/BTC price levels to watch,


Year High – 0.02270000 February 19 2017
Year Low – 0.01106602 January 01 2017
All Time High – 0.02668645 August 14 2016
data source:Poloniex

The volume of DASH/BTC is still going up despite the lure of BTC rally.

DASH/BTC market daily volume
DASH/BTC market daily volume. Data source:cryptocompare.com

DASH price looks good to test the 0.02310890, the year peak. The main target for DASH should be the key price of 0.02668645, the record high price last recorded at August 14. For any reversal movement, the nearest key support zone be located at 0.01866070 zone. A further breakout on 0.01581320 could trigger a bearish swing that drag the price to crucial area of 0.01336030 or below.

But the mood is more upside move supported with technical indicators. Look at the chart for details.

On daily chart with Ichimoku Kinko Hyo idea,
✘ Conversion Line taking a big climb on Base Line.
✘ Both lines situated well above Senkou Span B line and Kumo cloud
✘ MACD surge and increase the distance away from signal line
: signalling major price moves up

Some Critical DASH/BTC Price Levels for the Immediate Term


Important Resistance Levels


R1 – 0.02310890
R2 – 0.02441230
R3 – 0.02668645 (All time high)

Crucial Support Levels


S1 – 0.01866070
S2 – 0.01581320
S3 – 0.01336030

Trade Idea


Long. But beware of potential pullback. Take a look on chart to see the take profit target which was fetermined by the Bill Williams Fractals

Trade The DASH/Bitcoin Futures on BitMex
DASH/Bitcoin Future

Open Interest 276
Session Volume 930
24H Turnover 56.2740 XBT
Total Volume 85,574

DASH/Bitcoin (DASH/XBT) is tracking closely with DASH price in other exchanges defying the BTC momentum.


The DASH derivative is in the form of a Futures Contract and allows traders to speculate on the future value of the DASH/Bitcoin (DASH/XBT) exchange rate. Traders need not have DASH to trade the futures contract as it only requires Bitcoin as margin.

Trade DASH on BitMex Futures


** check below for other BTC/cryptocoin exchange options

note: please alert us if you know any new exchange that offered DASH trading in the comment.

Trading Idea : I expect a pullback soon, but fresh rally could push DASH to the all time high. The momentum is heavily bull, but check for the support level for potential long trade setup.


Set take profit and cut lose ratio at 3:1 to minimize the risk.

BTC Exchanges With DASH Trading,


Livecoin
Hit BTC
Yobit
Virwox
Bter
BitMex
CEX.io
Poloniex
Kraken

chart via tradingview with data source from Poloniex, Hit BTC, Yobit, Bter, Livecoin and BitMex.

The author is a self-described cryptocurrency activist. Ironically, he is not involved directly on the development and mining. But a keen trader that specifically studying and analyzing the chart and prices based on zen principles of candlesticks price action techniques. And most importantly, he is always prone to deceiving price movements that can exposes to trading losses. So trading based on his personal opinions is extremely risky and not advisable.

http://trader.exposed/



Please do your own due diligence before making any investment decision. This article should not serve as investment advice. This post is mainly as reference and tutorial for trading on possible cryptocurrency breakout.

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