Yahoo Finance Bitcoin Gold DASH and Monero Analysis December 14, 2017, Technical Analysis
Bitcoin Gold
Bitcoin gold was slightly choppy during the trading session, hanging around the $275 level. The $250 level underneath looks likely to see support, but also, we can see that the $300 level above is massively resistive. If we can break above that level, the market should go much higher, but I think that crypto currencies in general look likely to be somewhat muted until we get direction on the Federal Reserve as to where interest rate hikes are going to go into the future. While most crypto currencies don’t pay attention to these things, they have a massive effect on the value of the US dollar, and by extension crypto currencies, especially the smaller ones like Bitcoin Gold.
BTG/USD DASH USD and XMR USD Video 14.12.17
DASH
DASH continue to be very noisy as well, as we rallied again after testing the $800 level. This is a market that sees a lot of resistance above at the $1000 level, which is a target longer term. After all, the previous consolidated area measures for a move to that level. However, I think that dash will continue to chop around, so buying on dips will probably be the easiest way to get involved in this market as we can see quite a bit of choppiness occasionally, especially considering that the Federal Reserve will have something to say during the trading session on Wednesday. Volatility should be thought of as buying opportunities, but if we break down below the $800 level, we could drop to the $700 level rather quickly.
Monero
Monero had initially rallied significantly on the session, but you can see that the $330 level offered enough resistance to roll over and reach towards the $300 level. I think there is plenty of support down to the $280 level as it was an area where we had seen quite a bit of buying pressure. In general, I think we are in an uptrend, but we have failed to break out above the previous resistance line, and I think at this point we should go to the $350 level above, which is the next large, round, psychologically significant number. All things being equal, I do like Monero, as it has the most sustainable uptrend out of the crypto currencies that I am employed to cover. I think adding slowly is probably going to continue to be the best way to deal with Monero, as it looks strong, but also has noise as well.
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This article was originally posted on FX Empire
