BTG/USD
Bitcoin Gold has broken down significantly during the week, slicing through the $100 level like it wasn’t even there. We are testing significant lows, and if we break down below the $75 level, I think that they will probably go looking towards the $50 level next. A breakdown below that level census market to who knows where next. Ultimately, I think that this market continues to be very negative, and rallies probably offer selling opportunities as long as we are below the $100 level.
DASH/USD
The DASH market broke down significantly during the week as well, as we are reaching towards the $400 level. If we break down below there, the market probably goes down to the $300 level, or perhaps even lower than that to the $200 level. If we get some type of rally in the DASH market, I believe that it’s going to end up being a selling opportunity on signs of exhaustion, although you may need to look at shorter time frames to take advantage of that potential trade. I believe that it’s not until either Bitcoin or Ethereum rally significantly that we can see – rally.
XMR/USD
Monero traders continue to sell off the markets, as we have reached down towards the 61.8% Fibonacci retracement level again. That’s an area that of course offers a bit of psychological support, but at this point crypto currencies continue to struggle, and I think Monero won’t be any different. We need to see Bitcoin rally before Monero can rally as well.
