Bitcoin Gold DASH and Monero Price Forecast December 1, 2017, Technical Analysis

Bitcoin Gold

Bitcoin fell again during the day, and this of course had an effect on Bitcoin Gold. Because of this, we rolled over towards the $260 level, bounce towards the $280 level, and it now looks as if the 20-hour SMA is going to offer resistance. It looks as if we are ready to continue going lower, perhaps looking for support at the $220 level next, possibly even the $200 level after that. I have no interest in buying Bitcoin Gold until we break above the $300 level or find some type of support underneath. In general, the downtrend continues. This isn’t a meltdown waiting to happen, but it certainly seems to be a “cell the rallies” type of market for short-term traders.

BTG/USD DASH USD and XMR USD Video 01.12.17

DASH

DASH continues to chop around, initially surging higher during the day but then rolling over significantly to test the $640 level. The $640 level caused a bounce to the $740 level, an area that is essentially looking like “for value” currently. I think that the volatility will continue in the crypto currency space in general, and of course this market will be any different. If we can break down below the $640 level, I think that the support extends down to the $600 level. A breakdown below that level would be very negative, but I think we will find buyers between here and there. All things considered, DASH has held up quite well compared to some of the other crypto currencies around the world that have been absolutely ham slammed.

Monero

Monero was very choppy over the last couple of days, but continues to find plenty of selling pressure. The market reach down to the $150 level, which of course is psychologically important, but I think if we break down below the $148 level, which is the low of the session for Thursday, we continue to go much lower, at the very least looking towards the $140 handle, and then perhaps even the $130 handle after that. I believe that the market continues to be very difficult to deal with, but it is obvious that the sellers seem to be more in control than the buyers. In fact, technically speaking there is no buy signal until you break above the $190 level, and quite frankly I think it’s probably best to sit on the sidelines and wait to see if we get a selling opportunity. Alternately, if we get some type of supportive candle at a lower level, then perhaps we could be buyers. Right now, though, you would be forgiven for sitting on the sidelines and waiting for some type of stability, if not sanity in the marketplace as the crypto currency markets are struggling with the idea of Bitcoin breaking above the $10,000 level.