Bitcoin Gold has gone back and forth during the trading session on Thursday, using the $70 level as support. I think that if we can break above the $76 level, the market should then go towards the $80 level, perhaps the $90 level after that. I think that there is significant support down to the $64 level, and it’s likely that the buyers will continue to look at short-term dips as buying opportunities but if we did breakdown below the $64 level, Bitcoin Gold should unwind.
The DASH market went back and forth during the day but did have a bit of a positive slant to it. It looks as if we are trying to go towards the $500 level, an area that of course has a significant amount of psychological interest attached to it. I think that the market breaking above the $500 level should send this market towards the $540 level. I think that short-term pullbacks should continue to be buying opportunities, but if we break down below the $440 level, we may have to reset to the $400 level underneath. Ultimately, this is a market that I think is going to be very noisy, so with this in mind, I think that you will need to keep your trading position very small.
Monero markets fell initially during the day on Thursday but found the $250 level to be supportive enough to cause a bit of a bounce. I think the $250 level should be a bit of a “floor”, that extends down to the $240 level. I anticipate we will continue to see short-term bounces.