Alt Coins daily chart, May 08, 2018

Alt Coins fall to begin the week

BTG/USD

Bitcoin Gold fell 8% to open the week, reaching down towards the $70 level. That’s an area that was supportive, but I think if we can break down below the $68 level, the market is likely to go fishing towards the $60 level. Recently, we have broken through an uptrend line, but have been essentially consolidating between $70 on the bottom, and $80 on the top, which offers a nice short-term opportunity for those who are nimble.

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DASH/USD

The DASH market has been consolidating for some time, using the $440 level as support, and the $525 level as resistance. If we break down below the $440 level, I think the market probably unwinds to the $400 level. The $400 level has been important in the past, so I would expect to see some type of reaction in this area. If we were to break down below $400 level, then were probably looking at $350 level next. If we turn around and bounce towards the $475 level, I think we could go higher, perhaps reaching towards the $500 level.

XMR/USD

Monero markets drifted a bit lower as well, reaching towards the $225 level. I think that the market is getting ready to break down, and if we do break down below the $220 level, that should open the door to the $200 level rather quickly, and I would anticipate seeing a lot of support in that region. Alternately, if we rally from here I think we could eventually try to grind towards $250.

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BTG/USD DASH USD and XMR USD Video 08.05.18