Bitcoin Gold
Bitcoin Gold broke down significantly during the trading session on Thursday, and now looks likely to reach towards the $300 level. Because of this, I think we’re going to test a major support level, but I think if we can break down below there, the market will then test the $280 level, perhaps even breaking down below there. If we break down below that level, it’s likely that we will go down to the $200 level which is the next major support. If we bounce from the $300 level, we could work our way towards the $400 level again, but I would be hard-pressed to see that happen between now and New Year’s as volume won’t be there.
BTG/USD DASH USD and XMR USD Video 22.12.17
DASH
DASH rolled over as well, breaking down below the bottom of an ascending triangle, which of course is a very negative sign. The $1500 level has offered far too much in the way of resistance, and it now looks as if the market could go looking for support below. I think there is a significant amount of support near the $1200 level, so I would expect some type of bounce from there. Ultimately, if we break to the upside from that bounce, we could go back to the $1500 level. Otherwise, I think that we will go looking towards the $1000 level if we can break down below the $1200 level.
Monero
Monero gapped lower after initially going sideways during the trading session on Thursday, breaking below the $400 level. It now looks likely that we are going to test the uptrend line, and if we break down below the $350 level, the bottom could fall out. I suspect between here and there we should get some type of support though, so if you are willing to take a “flyer” in a thin market, you could be a buyer just below at the $350 region. Otherwise, look out below. That could send this market down to $225 rather quickly.
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This article was originally posted on FX Empire