During trading on Thursday, the so-called “alt coins” rolled over again, losing for the 3rd day in a row. It looks as if the larger crypto currencies are starting to fall apart again and roll over from the most significant resistance it has seen since the crash.
Bitcoin Gold fell a bit during the trading session on Thursday, as we reach towards the $100 level. It looks as if we are going to break down below the $100 level and reach towards $80 at this point, perhaps even lower. At this point, Bitcoin Gold is showing itself as a market you should be shorting, not buying. If Bitcoin and Ethereum continue to fall, it will obliterate this pair.
BTG/USD DASH USD and XMR USD 23.02.18
The DASH/USD pair fell after initially tried to rally on Thursday, breaking down to the $600 level. It looks as if we are going to break down below $600, perhaps reaching to the $500 level. I believe that the market has a lot of resistance above, and it’s only a matter of time before the DASH market falls apart. A rising US dollar could exacerbate this problem.
Thursday, cracking through the $275 level and breaking the back of support on the last week or so. If we can continue this move, we will almost certainly reach towards the $240. Ultimately, it looks as if Monero is going to break down rather significantly, so this has become a selling opportunity from what I see, ultimately, I believe that the Monero markets are reaching down towards the $240 level, perhaps even lower than that. At this point, I see no argument for buying, least not until we break above the $350 level, something that doesn’t look very likely to happen in the short term.