I see a potential opportunity forming for a short DASH trade. The assumption is that a HS pattern is forming especially the last stage where we will see BTC have lower lows. Keep an eye out and plan your entry.
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With the potential of BTC having lower lows, the HS pattern is getting close to completion. If BTC heads towards 5800 or lower, then HS will likely completed. This just increases the odds for lower lows for DASH. Note: I'm a big believer of DSH so long term, DSH has a future... waiting for evolution release but who is to say it will happen this year as the CEO promises more than deliver on time.
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The pitfalls of HS 1)You need to find patterns and watch them develop, but you should not trade this strategy until the pattern is completed. So it could mean a long period of waiting. 2)It will not work all the time. The stop levels will be hit sometimes. The profit target will not always be reached, so traders may wish to fine tune how market variables will affect their exit from the security. 3)The pattern is not always tradable. For example, if there is a massive drop on one of the shoulders due to an unpredictable event, then the calculated price targets will likely not be hit. 4)Patterns can be subjective. One trader may see a shoulder, where another does not
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With the anticipated higher lows for BTC, it relates to DASH forming a wedge