Bitcoin Gold DASH and Monero Price forecast for the week of January 15, 2018, Technical Analysis

Bitcoin Gold

Bitcoin Gold traders did very little during the week, for the 6^th week in a row. We have been in a range for some time, with $200 looking very likely to offer significant support. However, when I look at this chart I see a descending triangle trying to form, and if we break down below the $200 level I think it’s very likely that we could fall to the $200 level initially, followed by a significant move to the $125 level. A rally at this point simply confirms the overall consolidation, which is very difficult for longer-term traders to be involved with.

BTG/USD DASH USD and XMR USD Video 15.01.18

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DASH

DASH fell a bit during the week, dipping below the $1000 level yet again. We seem to be seen a significant amount of support at the $950 level, as it is more of a range than a support level. I think that the market continues to be sideways overall, bouncing around between the $1000 level on the bottom and the $1200 level on the top. In other words, it’s not until we get some type of impulsive move that a longer-term trader can be involved. 4 weeks ago, we ended up forming a massive shooting star which is very negative. However, we have not broken down below the bottom of it, which is the $800 level, which is the technical signal the start selling. Since then, we have simply been going sideways. Volume is declining, that’s not a good thing.

Monero

Monero markets formed a somewhat neutral candle during the week, as we could not hang on to gains near the $450 level. Volume is an issue in this market as well, as it looks like interest is starting to wane. The $300 level below is very supportive, so it’s not until we break down below there that I would be concerned. If we do though, I suspect the market finds $200 rather quickly. Otherwise, expect more consolidation and back and forth short-term trading.

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