Bitcoin Gold DASH and Monero Analysis December 13

Bitcoin Gold

Bitcoin Gold rallied a bit during the trading session on Tuesday, breaking above the $250 level. It looks as if we are going to go looking towards the $280 level above, which is resistance. If we can break above the $280 level, the market should then go to the $300 level. I believe that the 20 SMA in the middle of the Bollinger Band indicator has been offering support, I believe that the $240 level underneath is the “floor” in the market, so I think that buying the dips should continue, as we have a nice gradual grind on the chart suggesting that we have a nice uptrend forming.

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BTG/USD DASH USD and XMR USD Video 13.12.17

DASH/USD

DASH when parabolic during the trading session, breaking towards the $950 level. We have been consolidating for several weeks between the 600 and $800 levels, and a breakout should have sent this market to the $1000 level, but not in just a few hours. If you are not involved in this market, you should stay out as buying at these high levels is a great way to lose, as the freight train has left the station, but there is likely going to be a significant pullback. Unless you can deal with that type of volatility, you have no business being involved.

On the other hand, you certainly don’t want to short this market, even though a pullback is almost guaranteed. The main reason being of course that markets can remain irrational much longer than you can remain solvent, as the old expression goes. If you’re not involved in this market currently, you will have to wait for a pullback, otherwise you’re playing with fire and more than likely will lose money.

XMR/USD

Monero rally during the day, breaking above the $300 level. This is a significant break out, and we do of course have reasonable volume on the hourly candle that accomplish that move. Because of this, I think that short-term pullbacks are buying opportunities, and I look at the $300 level as a “floor” in this market. Out of the 3 currencies that are in this video, I believe that Monero is probably the most likely to continue to go higher for the longest time. This is a strong breakout, but not an unreasonable one, which makes it much more appealing.

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