Bitcoin Gold DASH and Monero Price Analysis December 22, 2017, Technical Analysis

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.

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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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