Bitcoin Gold DASH and Monero Price Forecast December 21, 2017, Technical Analysis

Bitcoin Gold

Bitcoin Gold rally during the trading session on Wednesday, reaching as high as $420. This may be in reaction to the massive hack in South Korea for Bitcoin, as Youbit, a major South Korean exchange, was hacked to the point where it had to file for emergency bankruptcy. Because of this, an unknown amount of coins was stolen and seemed to be gone for good. This underlines a lot of the issues when it comes to Bitcoin, and the reaction of the markets suggests that people are trying to get away from that currency, least in the short term. This has been good for Bitcoin Gold so far. I believe that short-term pullbacks are buying opportunities, as there seems to be a significant amount of support at the $380 level.

Get Into Dash Trading Today

BTG/USD DASH USD and XMR USD Video 21.12.17

DASH/USD

DASH initially pulled back to the $1200 level and then exploded to the $1500 level during the day. I suspect that this is not only in reaction to the overall momentum and a break of a large, round, psychologically significant level, but also the previously mentioned hack in South Korea. Lately, this market has been very strong, and I think we will continue to see buyers jump into this market on dips. In fact, on the hourly chart, it looks as if were trying to find buying pressure of the $1400 level, and perhaps even trying to break above the $1500 level, allowing us to go much higher.

XMR/USD

Monero also broke above a psychologically significant area, clearing the $400 level, and reaching as high as 440 during the day. We have pulled back since then, but it looks as if $400 is going to offer a nice buying opportunity, and the market should continue to go higher, perhaps reaching the next major round number, the $500 handle. That’s an area where I would expect to see a lot more noise, so I think that is probably the “ceiling” in the short term. However, we obviously have a lot of bullish pressure, so I like buying short-term dips as a value play in a market that I think has much farther to go. Monero has been one of the better-looking charts for some time.

Buy & Sell Cryptocurrency Instantly