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10/09/2024 14:14:19 GMT

Dash forms bull setup

Gregor Horvat Wavetraders

Looking at the 4-hour chart of Dash with ticker DSHUSD, we can see sharp and impulsive bounce from August lows after that final leg (C) of Y of 5, so strong support can be actually in place, if we consider it’s breaking above channel resistance line by a five-wave impulse. That said, watch out on more upside after current a-b-c correction that can finished at projected 22-20 support area, but only impulsive five-wave recovery back above channel resistance line and 26,70 region would be confirmation for bulls. Invalidation level is at 19.

Chart

DSHUSD 4H Chart

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Author

Gregor Horvat

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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