Alt coins fall again on Friday

BTG/USD

Bitcoin Gold fell again during the day on Friday as we continue to consolidate underneath the $48 level. By doing so, it looks as if we are trying to build up enough momentum for the next move, and typically the consolidation is a sign that we are going to continue the overall trend, which in this case of course has been lower. At this point, I think every time we rally, especially if we reach closer to the psychologically important $50 level, it’s probably time to start looking for a selling opportunity.

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DASH/USD

The DASH market fell significantly during the trading session, reaching down to the $330 level. I think that overall, the $350 level is offering a bit of resistance, and any time we rally, it’s likely that we will see a lot of selling pressure near that area. At the first signs of exhaustion, I will not hesitate to sell as the DASH market will follow the rest the crypto currencies lower. Unless something fundamentally changes, I don’t see any hope on the short-term horizon for crypto currencies. Beyond that, the longer-term charts look horrible.

XMR/USD

The Monero markets fell during the Friday session as well, which is not a huge surprise considering that it has underperformed the rest of the alt coins and major crypto currencies for some time. It looks very likely that we will test the $160 level, and a break down below there could unwind this market rather drastically. Rallies are to be sold.

BTG/USD DASH USD and XMR USD Video 28.05.18

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