Bitcoin Gold DASH and Monero forecast for the week of December 18, 2017, Technical AnalysisBitcoin Gold, DASH, and Monero have all been bullish over the previous week, as the crypto currency space continues to attract fresh money. That being said, we are heading towards the end of the year so be interesting to see how liquidity affects these markets.
Bitcoin Gold rallied during the trading this past week, reaching as high as the $350 level. Ultimately, that area offered enough resistance to turn things around, and we have fallen below the $300 level as I record this on Friday. I think that given enough time, we will eventually break out above the $350 level, but it won’t be easy to do. I suspect that buying and holding is probably the best way to deal with this market, or buying on the dips on short-term charts if you have the ability. Overall, expect a lot of noise but I do anticipate that we will revisit the $400 handle.
DASH continue to show bullish pressure during the week, reaching over the $1000 level at one point. We have pulled back significantly from that area though, and as I record this we are below $900. I think that the $800 level will offer support though, so this pullback should be a buying opportunity. He will probably have to find supportive candles on daily charts or lower time frames in order to continue to buy this market in bits and pieces, but I think eventually we will build up enough momentum to try to break above the $1000 handle, which of course has a massive amount of psychological importance attached to it.
Monero broke above the $300 level on Friday, and it looks likely to continue to go higher. We are bit overextended at this point, and the stochastic oscillator is crossing over in the overbought area. Because of this, I am waiting to see if we get a significant pullback that I can take advantage of, as it would offer value in what is a very promising crypto currency. Pay attention to the US dollar, especially the US Dollar Index, as it gives you an idea as to how crypto currencies in general should do against the greenback, as if the US dollar falls, typically crypto currencies will go higher. I believe in buying Monero, but I also believe in finding decent pricing, something that we may be a little bit above right now.