Bitcoin Gold fell during the trading session on Thursday, testing the bottom of the Bollinger Bands. We have bounce from there and currently we are testing the 20 SMA. I think the market probably roles over from here given enough time, but I also recognize that the $200 level underneath is massively supportive. I also recognize that we could continue to go higher, and if we do the $300 level is about as high as we will get over the next several sessions. Once we do break $300, and I think we will, we will go much higher.
DASH continues to drift lower during the trading session on Thursday, reaching towards the $1000 level. The market looks heavily supported in this area though, so if we break down below that level I think it could give way to the $900 level rather quickly. If we break down below the $900 level, the market probably goes much lower, but in the short term I think it’s likely that we will continue to see buyers on short-term dips. I don’t think DASH traders are going to become overly bearish though, and I think that this pullback might end up being a buying opportunity. The $1200 level above is massive resistance, and a break above there should send the market much higher.
Monero of course has been bullish over the last several sessions, but in a very general manner. I like this market more than some of the others, because it has a sustainable rally going, but it is also very illiquid this some years he can’t read too much into the technical analysis. There is a short-term uptrend line just below, which has been holding traders higher lately, and because of this I think we may break above the $350 level, and then go hunting the $400 level after that. I would expect it to move in slow motion though. After the 2ndweek of January, I anticipate Monero will start outperforming some more of the other crypto currencies. However, if we were to break down below the $300 level, the market could drop to $200 rather quickly.