Dash has broken out of its recent downtrend, and is forming a rising wedge pattern. These are incredibly bullish chart patterns, and occur when a top is repeatedly tested and lower highs keep forming. When the top inevitably breaks, the price generally rockets higher!
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As you can see in the chart above, Dash has made 2 tops just above $1,200. This level is the top of our wedge pattern. By looking at past times this has happened, we can expect a substantial move higher. This pattern formed in dash on December 14th and broke out on December 16th!
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When the pattern broke Dash saw a move higher of about 25%! I expect the same exact thing to happen this time around!
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A move up to $1,400 signifies about a 27% gain from current levels! :) That is my short term price target for Dash, and if history repeats itself (which it usually does) getting long dash may be a very smart decision!
Let me know if you have any questions or thoughts in the comments section below! Good luck, and happy trading! :)
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