Alt Coins Price Analysis February 6, 2018, Technical Analysis

BTG/USD

Bitcoin Gold fell apart again during the trading session on Monday, and as I record this we are already down 17% during the day, and it is likely that the selling continues. I think that the $100 level being broken below is a major psychological damaging event, and I think that rallies will struggle to break above that level, even if we get to it. My next target is $75.

Get Into Dash Trading Today

BTG/USD DASH USD and XMR USD Video 06.02.18

DASH/USD

DASH traders sold off drastically during the day as well, as we are breaking down to a fresh, new low. Because of this, it looks as if the market is going to go down to the $450 level, and perhaps down to the $400 level after that. I believe that the market will eventually go even lower, and at this point I suspect that any time it rallies, people will be looking to sell into the resistance to recover some of their losses. It’s almost impossible to imagine people willing to hang on after this type of loss that we have seen. Because of this, I believe that selling rallies will continue to be the best way to play this market, especially if you can use leverage to your benefit. Wait for the rallies and punish this market as it is extraordinarily soft.

XMR/USD

Monero markets also broke down significantly, losing over 17% as I record this. We have sliced through the $200 level, and it looks likely that we are going to continue to go much lower. $200 should be resistive at this point, and I think that the $220 level is also resistance after that. The $150 level underneath should be the next target, as it is a large, round, psychologically significant number.

Buy & Sell Cryptocurrency Instantly