Yahoo Finance Bitcoin Gold DASH and Monero Price Forecast December 15, 2017, Technical Analysis
BTG/USD
Bitcoin Gold continues to show signs of extreme volatility, as we fell $50 during trading in the US session. This was after a significant run-up of the same $50, and as I record this we are hovering around the $300 level. Because of that, it’s likely that the markets will continue to be difficult to deal with, but the $300 level makes perfect sense as an area to start buying again, as it is a large, round, psychologically significant number. At this point, it looks as if Bitcoin Gold will continue to go higher, and we are testing the middle moving average on the Bollinger Bands, one-hour timeframe. I think we are going to go looking towards the $350 level above, then perhaps go even higher. Alternately, if we do break down I think there’s plenty of support near the $275 handle.
BTG/USD DASH USD and XMR USD Video 15.12.17
DASH/USD
DASH fell after initially trying to rally during the day on Thursday as well, as the $1000 level offered a significant amount of resistance. We have formed a hammer on the hourly chart around the $850 level, so it looks as if the market is trying to find value in this area that I can take advantage of. Because of this, I think that the market participants will start buying again, as the market has been grinding higher and reaching towards the psychologically important $1000 handle. I think the $800 level underneath is massively supportive, so it’s not until we break down below there that I think anything has changed. That’s not to say that we won’t continue to see a lot of volatility, as thin markets tend to do. If we did breakdown below the $800 level, at that point I think we would go looking towards $700 rather quickly as it would show a significant break down in confidence.
XMR/USD
Monero continues to be very noisy as well, and the like most other crypto currencies, rallied at the beginning of the session, only to roll over again. We found support near the $300 level, and that of course is a good sign. It looks as if we are going to go looking towards the $333 level again, and therefore I am a buyer. If we were to break down below the $280 level, that would be very negative sign, perhaps sending sellers back into the marketplace and ripping away some of the confidence that we have seen as of late. In general, this is a bullish market, and I contend that we should be buying short-term pullbacks as opportunities to find value. Eventually, I think we go looking towards the $350 handle above, where we would expect to see some type of minor profit taking.
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This article was originally posted on FX Empire
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