DASH- A Speculative Crypto Play
Altcoin Dash is a speculative crypto play I recently took a position in. Cryptocurrency trading is extremely risky, but we have seen some spectacular moves in smaller coins recently, specifically ATOM, and ALGO. After moving from around $120 to $300 last week, Dash has been holding up really well, with not much distribution coming in. When looking at the weekly chart, the accumulation over the past month really stands out. If Dash can remain above recent resistance around $300, I think it can move very quickly higher, perhaps towards the $500-600 range. Due to the exceptionally volatile nature of altcoins, this is not a position I would look to hold for the long-term, like some people do with Bitcoin or Ethereum. Instead, I would look to sell on the way up for a quick gain. As with my stock trading, I have a stop loss in place to keep my risk in check.
If you are interested in using Coinbase to purchase Dash and would like to receive a $10 sign up bonus, use this link.
Full Disclosure: I currently own Bitcoin, Dash, and Ethereum.
Full Disclosure: This post contains an affiliate link to Coinbase.
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