Bitcoin Gold initially tried to rally during the week but found enough resistance at the $325 level to turn around and break down significantly. We have broken down below the $250 level and even reached as low as $212. The market continues to be very noisy, and I think that it’s very likely that with most of the attention on Bitcoin this coming week, this market will probably suffer as well. I believe that there is a bit of a “ceiling” at the $300 handle, with massive support at the $200 level. The market continues to chop around, and therefore it’s going to be difficult to trade from a longer-term standpoint.
BTG/USD DASH USD and XMR USD Video 11.12.17
DASH continues to be very noisy, bouncing around between the $500 level on the bottom, and the $900 level above. This market continues to look bullish overall, but this pullback is a bit overdue, so I’m looking at a pullback towards the $500 level is a nice buying opportunity. In general, I believe that DASH continues to be a bullish market, and longer-term we should continue to rally towards the $1000 level. However, I think you will get a better opportunity to pick up the market at lower levels, especially if Bitcoin disrupts everything like I think it will for the next 5 sessions. The noise in the markets continue, but I think that a breakdown below the $500 level would bring in fresh selling and make be much more cautious.
Monero rally during the week, reaching towards the $300 level above. The $300 level is a psychological resistance barrier, but as most cryptocurrencies have gotten a bit overbought, Monero is no different. I think that the pullback that looks likely should end up being a nice buying opportunity near the $200 level, so make sure that you are paying attention and looking for supportive candles to take advantage of. If we do break down below the $200 level, the market will more than likely go looking towards the $150 level underneath, which was previous resistance, and should now be supportive. In general, I believe that Monero will be one of the winners longer-term, but we need to find some value, something that’s typical in all markets.
This article was originally posted on FX Empire
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