Bitcoin Gold DASH and Monero Price Forecast January 4, 2018, Technical Analysis

Bitcoin Gold

Bitcoin Gold was choppy and messy during the trading on Wednesday, as we continue to dance around the $250 level. It looks to me as if the market isn’t ready to do much, and I think that rallies at this point will probably be a selling opportunity, and with that being the case, it’s likely that the market will be very difficult. I think that the $300 level above could be the target, but there so much in the way of resistance between here and there. Alternately, I think that the “floor” is at the $200 level, so we could drift down there as well. Quite frankly, this is a very messy market that isn’t worth being bothered with right now with low-volume, and unclear directionality.

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DASH

DASH/USD fell a bit during the trading session, as we have struggled at the top of a downtrend in channel. If we break down below the $1050 level, I think that the market continues to go much lower, perhaps reaching towards the $1000 handle, and then down to the $900 level. Alternately, if we can break above the $1200 level, the market should go much higher, perhaps reaching towards $1400 given enough time. Either way, I expect that dash will eventually find buyers, the question is whether we buy on a breakout, or some type of dip that offers value?

Monero

Monero continue to grind to the upside during the session on Wednesday, as we are working towards the $400 level. If we break above there, the market should continue to go much higher, so I am waiting for a break above that level before us are putting money to work. Alternately, we could roll over and go to the $300 level underneath which is the “floor” in the market. Given enough time, I think that we will get the breakout we need, but right now volumes are very thin, and Monero seems to be just drifting around without any significant direction. The longer we drift, the more likely we are to see some type of selloff. This is because there is very little in the way of volume in this market to begin with, and if nobody’s left to buy, people will all start heading towards the exits at the same time. Otherwise, it looks as if it is bullish, but you are going to need to be extraordinarily patient.

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