Bitcoin Gold DASH and Monero Price Forecast December 26, 2017, Technical Analysis

BREAKING NEWS

US, China agree to slash tariffs to 10% for 90 days

Christopher Lewis

Updated Fri, Dec 22, 2017, 10:54 PM

Bitcoin Gold

Bitcoin Gold gapped lower at the open on Friday, and then sliced towards the $200 level. Because of this, looks as if Bitcoin Gold is broken, and that at this point rallies will probably be sold until we get above the $300 level. That would not only filled the gap, but breakthrough the top of it. Crypto currencies in general have been slaughtered during the day, with Bitcoin Gold losing roughly 40%. If we break down below the $200 level, the market should then goes down to the $150 level after that. Ultimately, I have no interest in buying this market anytime soon.

Get Into Dash Trading Today

BTG/USD DASH USD and XMR USD Video 26.12.17

DASH/USD

DASH broke down as well, gapping lower at the open. We reached as low as $800, and at that point I think that if we break down below the $800 level, the market probably drops to the $600 level. Alternately, we could bounce from here, but I would be very cautious about buying. The $1100 level above will be the beginning of significant resistance, so I suspect that we are going to see some type of bounce, but then selling pressure jumping back into the market. I believe that the market is extraordinarily bearish, and with the lack of volume over the next several sessions, the downward pressure could overwhelm. In general, I believe that the market is telling us just how thin the market for some of these currencies are.

Monero

Monero markets also fell, reaching towards the $250 level, bounce, found resistance at $350 level as well, and then broke down again. It looks as if the market is going to go looking towards the $200 level below, which is significantly supported due to psychology. However, if we break down below the $200 level, I don’t know where the selloff in, perhaps down to the $100 level. The market should continue to be very noisy, and at this point I have no interest in buying until we were to break cleanly above the $350 level, something that doesn’t look very likely to happen. I think that the crypto currencies have a long way to go to the downside over the next several sessions. The markets will lack a lot of volume, and that of course can cause a lot of problems for retail traders. The destruction in the crypto currency markets have been across all digital currencies that I pay attention to.

Buy & Sell Cryptocurrency Instantly