Yahoo Finance BTG, Dash, and Monero Analysis January 18, 2018, Technical Analysis
BTG/USD
Bitcoin Gold fell a bit during the trading session on Wednesday, reaching towards the $145 level. In all fairness though, Bitcoin Gold didn’t get absolutely pummeled in the same way some others have, as the losses were only about 15%. We are well below the $200 level though, and I think we are going to continue to go even lower. I suspect that rallies are selling opportunities, and that anybody who has serious money to put the work knows this. Institutional investors are ready to drop this thing right away, especially considering that the true Bitcoin market itself cannot hang onto gains.
BTG/USD DASH USD and XMR USD Video 18.01.18
Dash/USD
Dash markets have broken down below the psychologically significant $800 level recently, and then broke below the $700 level. We have bounced on the hourly chart, but the massive volume-based candles are all negative. I think that is telling, and it shows that we are going to continue to see selling going forward. Rallies are simply an opportunity to sell from higher levels, and at this point it’s not until we break above the $1000 level that I think most traders will be comfortable buying. If we can break down from here, I suspect that we are going to go to the $600 level, and then eventually the $500 level. Dash is no different than other crypto currency, it’s being sold.
Monero
Monero broke down significantly as well, and one point touching the $250 level. We bounce from there, but it looks likely that there is a bit of a ceiling at the $320 level, and with this type of selloff I can’t imagine that anybody feels comfortable about holding onto Monero. Retail traders are leaving what looks like a sinking ship, so I think that it’s only a matter of time before we go even lower, and I have a short-term target of $200. It’s not until we break above the $360 level that I would be comfortable buying.
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This article was originally posted on FX Empire
