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FxWirePro: DASH/BTC buy opportunity

  • DASH/BTC has bounced off 2H 100 SMA to edge higher, intraday bias bullish.
     
  • The pair has shown a break out at major trendline resistance at 0.0784.
     
  • 2H charts shows support for upside, ADX which is above 25 and rising with +ve DMI dominance.
     
  • We evidence bullish divergence on RSI which adds to bullish bias.
     
  • Immediate resistance is seen at 0.08207 (50% Fib retrace of 0.9200 to 0.0721 fall).
     
  • Break above eyes 0.0844 (61.8% Fib) ahead of 0.0875 (July 6th high).
     
  • On the downside, 2H 100 SMA is strong support at 0.0746, weakness only on break below.

Support levels - 0.0767 (5-DMA), 0.0746 (2H 100 SMA), 0.0726 (20-DMA), 0.0663 (200-DMA)

Resistance levels - 0.08207 (50% Fib retrace of 0.9200 to 0.0721 fall), 0.0844 (61.8% Fib), 0.0875 (July 6 high)

Recommendation: Good to go long on dips around 0.08, SL: 0.0720, TP: 0.0845/ 0.0875/ 0.0920.

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