Bitcoin Gold went sideways overall during the trading session on Monday, before rolling over and losing over 3%. We are now testing the $80 level as I record this market. I think that the Bitcoin and the Ethereum markets rolling over and failing to break above significant resistance shows that the alt coin markets will also struggle. I think at this point; Bitcoin Gold is more likely to reach towards $75 than breaking above $92.
BTG/USD DASH USD and XMR USD Video 13.03.18
DASH traders initially trying to rally during the trading session on Monday but struggled at the $550 level. There is support just below current levels though, so it’s possible that we may get a bit of a bounce. Having said that, I am not overly bullish, and I think it is probably best to step away from this market, but I do recognize that value hunters may be attracted to it. We have been making slightly “higher highs” on the hourly chart, but obviously crypto currencies have been very bearish as of late. DASH will of course will be any different, and it needs both Bitcoin and Ethereum to start picking up momentum to rally under most circumstances.
Monero tried to rally during the day but struggled at the $290 level to roll over and fall significantly. There is a band of support between $260 and $250, so we could get a bit of a bounce. At the $240 level I would anticipate a “floor” in the overall consolidation that we have been in an over the last several sessions. If we were to break down below that level, that would be a very negative sign.
This article was originally posted on FX Empire
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