Dash: Wave C Forming for an Entry Opportunity at 547

Technical analysis show that Dash/US Dollar is now in the process of an ABC corrective wave after completing a five wave down. The assumed higher low of $411.003 appears to be the B-wave. If that’s the case, the C-wave up should take the market above $547 resistance.

Moreover, breach of this resistance level should also trigger the cup and handle reversal pattern on the daily chart. We have a confluence of bullish patterns here giving us strong arguments to bet on the market.

The strategy is to buy the breakout at $547. Those who bought the higher low might take profits at the resistance.

Once breakout is complete, the market may explode to the target of $781. The process may take a month.