DASH and Litecoin Analysis December 13, 2017

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DASH/USD

DASH rallied again during the day, reaching towards the $840 level. At this point, a continuation of that move seems very likely, and therefore we are bullish of DASH. Pullbacks should be supported, with the $720 level offering a bit of a floor. The target is $1000 going forward.

LTC/USD

Litecoin has gone parabolic, meaning that we are testing the $300 level as I record this. Buying at this point is reckless and the second dumbest thing I can think of doing in this market. The first of course would be shorting this type of move, because even though a pullback is necessary, stepping in front of a runaway freight train is a great way to blow your account. Look for pullbacks to take advantage of, but we have clearly gone far too parabolic to get involved now.

Thank you for watching, I’ll see you tomorrow.