Bitcoin Gold DASH and Monero Forecast December 11, 2017, Technical Analysis

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Christopher Lewis

Updated Fri, Dec 8, 2017, 10:55 PM

Bitcoin Gold

Bitcoin Gold continues to bounce around the short range of $230 on the bottom, and $250 on the top. I think if we can break above the $250 level, we will then go look towards the $275 level above, and then possibly the $300 level after that. A breakdown below the $230 level probably will send this market looking towards the $200 level, and I suspect we very well could see some volatility as Bitcoin captures most of the attention this week with the futures market opening up.

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BTG/USD DASH USD and XMR USD Video 11.12.17

DASH/USD

DASH rallied a bit during the trading session on Friday, reaching towards the $750 level. We pulled back though, only to find support at the $700 level. I believe that this market will continue to be bullish, but there is a massive amount of noise above. Because of this, adding slowly on dips will probably be the best way to play the market, and I believe that currently we have a massive “floor” at the $600 level underneath that would keep this market in an uptrend. That’s not to say that this will be an explosive moved, quite frankly I think this is going to be more of a grind than anything else.

XMR/USD

Monero continues to be noisy and choppy, struggling at the $270 handle. I think that given enough time, the buyers will take over, but we need to continue building the base from which we are trying to rally. The $300 level above is a major psychological event just waiting to happen, so I think that the markets will eventually find a reason to break out. In the meantime, look at short-term dips as buying opportunities to build your larger position. I think that the “floor” in the market is closer to the $200 level, so we could pull back in the meantime. Nonetheless, if you add slowly and then continue to add as the market goes in your favor, you should fair quite well.

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