$DASH Short | Rebound vs. Reversal: Don't Get Trapped! 📉
The privacy sector is seeing a lot of "noise" right now with
$DASH bouncing significantly. While the Square is buzzing with long calls, a deeper look at the data suggests this move is a technical rebound, not a fundamental reversal.
🔍 Why I’m Bearish on DASH:
The "Inducement" Trap: Recent price spikes look like classic bait for retail investors. In a weak market context, these are often "dead cat bounces" designed to create exit liquidity for larger players.
Fundamental Stagnation: Despite short-term fluctuations, DASH’s core fundamentals haven't shifted enough to justify a long-term trend change.
Technical Resistance: DASH is currently trading near $36.00, struggling to break through key psychological and technical barriers after a recent 20-25% weekly decline.
📉 Trade Setup:
Strategy: Short on pullbacks/rejections.
Target Zone: Watching for a retest of the $31.50 support floor.
Risk Note: The medium-to-long-term moving averages remain in a bearish arrangement.
💡 My Play: I’ve been riding this short from the 60s and I’m not convinced yet. Every push higher is getting faded, and until we see a definitive break of the $44 - $46 resistance, the trend remains down.
What’s your move? Are you buying the "Privacy Rally" or waiting for the next leg down? Drop a comment! 👇
#DASH #PrivacyCoins #CryptoTrading #BinanceSquare #BearishTrend Disclaimer:"Not financial advice. Trade at your own risk."