Alt Coins drift lower again during Friday trading

BTG/USD

Bitcoin Gold initially tried to rally during the day but rolled over significantly to show signs of weakness. We broke down below the $44 level, and it now looks likely that we are going to test the $42 level underneath. A breakdown below that level could unwind this market much further. I think that the $40 level would be targeted next. I believe that the $46 level is short-term resistance, and a break above there could send this market to the $50 level.

DASH/USD

The DASH market went sideways in general during the trading session on Friday, as we continue to dance around the $325 level. We have been in a very long-term downtrend, so it’s likely that we will continue to see rally sold off. I don’t have any interest in buying this market, least not until we get some type of major impulsive move to the upside. $300 underneath should offer support though, so I think that a breakdown below that level could unwind this market even further. Ultimately, I continue to think that selling the rallies will be the best way to go.

XMR/USD

Monero markets went back and forth during the trading session on Friday, showing signs of volatility. The $175 level continues to be important, and I think that we will continue to range bound trade in this general vicinity. However, it’s obvious that most crypto currencies are negative right now, so every time we rally it’s going to be a nice opportunity to short this market from what I see. It’s not until we break above the $200 level that I could start buying.

Bitcoin Gold DASH and Monero Video 02.04.18