๐ Market Analysis: Looks Good Pt 2
๐ Observation
Letโs take a look at ๐ Dash Coin. Looking at the market structure from a daily or โฐ 12-hour view, we can see the formation of an ๐ inverted head and shoulders pattern, which could complete around ๐ฐ $64.80.
When we examine the candlestick structure, we notice the price retracing to a previous long ๐ bullish candle, which could act as ๐ support if a reasonable pattern forms within this zone.
๐ก Insights
The โณ 12-hour candlestick is attempting to form a โ๏ธ doji, which signifies a pause or a โ๏ธ tug-of-war in market sentiment. Another candlestick needs to form for proper confirmation.
On the daily chart, we're still seeing signs, but itโs too early to tell as the market hasn't closed on this timeframe.
The ๐ 3-day chart is trading above the ๐จ inverted hammer, which is a positive development.
๐ Hints
Although lower timeframes are showing changes in direction, as swing traders, we cannot solely rely on those signals.
๐ Takeaway
Letโs watch closely how the market plays out. Itโs still ongoing, and anything can happen. โณ Patience is key. A proper confirmation will reduce your entry risk, and you'll still make a profit while avoiding unnecessary losses.
๐ก Tip
๐ Be patient and let the market speak! ๐
๐ Action
๐ Keep in tune for future updates on this market! ๐
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