Bitcoin Gold DASH and Monero Price forecast for the week of January 8, 2018, Technical Analysis

Bitcoin Gold

Bitcoin Gold markets have gone back and forth during the week, essentially certainly nothing. We are hovering around the $250 level, which is essentially the fulcrum for overall pricing in this market that I see on the weekly chart. I think that the market will continue to be very noisy, and if we can break out to the upside, specifically the $300 level, I think we will go looking towards the $400 level above. However, this is a very underwhelming chart here, and I think we break down below the $200 level, Bitcoin Gold could collapse to the $100 level.

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BTG/USD DASH USD and XMR USD Video 08.01.18

DASH

DASH had a positive week, but still struggles at the $1200 level. I think that the $1200 level extends resistance to at least the $1300 level, so it’s difficult to imagine a longer-term trader being comfortable buying here. We have a massive shooting star from a couple of weeks ago, although we haven’t broken down below the bottom of it. If we were to break down below the bottom of the candle, we would probably drop to $400. I think dash is going to be extraordinarily volatile, and probably the realm of short-term traders in the foreseeable future.

Monero

Monero did very little during the week as well, and with the shooting star that had preceded it, and the one before that, it’s likely that we will eventually see a significant move lower. The $200 level would be a target, but if we get above the top of the shooting star from a couple of weeks ago, we could go higher. However, that means that we would have to break above the $475 level, something that would take a lot of momentum and volume to do. As I look at the chart, I notice volumes have been dropping since September. That is not a good sign in general.

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