Alt Coins Price Forecast February 9, 2018, Technical Analysis

BTG/USD

Bitcoin Gold rallied significantly during the trading session on Thursday, gaining 20% as I record this. There was a massive breakout above the $100 level, so this of course is very impressive, and encouraging. However, there’s a lot of noise between here and the $130 level, so I think that buying on dips will probably be the best way to go if you are trying to play for a longer-term move. If we break down below the $90 level, this coin is probably going to collapse.

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BTG/USD DASH USD and XMR USD Video 09.02.18

Dash/USD

Dash markets had a strong day as well, reaching the vital $600 level. We did roll over a little bit from that level, and volume is starting to drift a bit lower as well. Because of this, I think we will probably have to pull back to build up the necessary strength and confidence to try to break out. Above the $650 level, the market will probably recapture most of the losses. However, this is a very thin market right now, so I think that a little bit of work needs to be done to make that move. If we break down below the $500 level, we will revisit the lows again.

Monero

Monero made a strong move during the day as well and has recaptured much of the losses over the last couple of days. If we can clear the $260 level, we may perhaps go even higher, but volume in the Monero market is very thin. Because of that, I think that you will need to pay more attention to the Bitcoin charts than Monero to trade this market. We are essentially exactly where you would expect to see the sellers come back in, so it will be interesting to see whether people are willing to get out of the market where the stops had been run previously, to preserve their initial trading capital.

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