BTG/USD
Bitcoin Gold has done almost nothing during the day, gaining just a single percent. The market looks likely to continue to struggle near the $200 level, and it’s not until we break above that level with a spike in volume to the upside that I would be willing to put money to work. In the meantime, this is a short-term back and forth type of market that continues to offer very little in the way of opportunity.
BTG/USD DASH USD and XMR USD Video 25.01.18
DASH/USD
The DASH market did very little during the day, testing the $800 level but failing. I think if we can break above the $800 level, the market should then go to the $900 level, followed by the $1000 level. Ultimately, this is a market that seems to be trying to form a bit of a base, but until we get an explosive candle, it’s difficult to imagine a situation where it’s worth being bothered with. If we did break above the $1000 level, it’s likely that the market should continue to go much higher. Ultimately, this market looks likely to roll over on short-term rallies, and I think that we would probably go down to the $600 level. The volatility of the market will probably remain dampened, something that most crypto currency traders don’t like. This will continue to be a very quiet market. Wait for volume and momentum to return, then you can trade again.
XMR/USD
The Monero market still is nothing during the day as well, as volume has completely disappeared from this pair. I believe that the market is trying to form a bit of a base at the $300 level but is very unlikely to be able to rally with any significant strength, least not until more people are brought into the markets. Right now, it looks as if very few people are willing to risk it, so I anticipate that the best thing you can do is wait for volume to return, and then simply follow wherever it goes.
