THELOGICALINDIAN - Key Points
Bitcoin gold amount beneath appear $200 adjoin the US Dollar. BTG/USD is currently assuming a lot of abrogating signs and is beneath the $230 resistance.
Bitcoin Gold Price Upside Hurdle
There were continuing declines in bitcoin gold amount beneath the $240 abutment adjoin the US Dollar. The amount continued its contempo abatement and confused beneath the $220 and $210 abutment levels. It alike attempted a breach beneath the $200 akin and formed a low at $199.83. Later, it managed to balance hardly and it confused aback aloft the $200 level. It additionally succeeded in breaking the 23.6% Fib retracement akin of the aftermost bead from the $246 aerial to $199 low.
However, there are abounding hurdles on the upside such as the $220 level. It is the 50% Fib retracement akin of the aftermost bead from the $246 aerial to $199 low. Above the $220-222 level, the abutting above attrition is about the $230 akin and the 100 alternate simple affective average. There is additionally a above bearish trend band basic with attrition at $228 on the alternate blueprint of BTG/USD. Therefore, it seems like there is a key resistance area basic abreast $220-230 levels.
If the brace corrects college from the accepted levels, it may face sellers abreast $220-230. On the downside, a breach and abutting beneath $200 could amplify bearish burden in the abbreviate term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTG/USD is hardly placed in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is still beneath the 50 level.
Major Support Level – $200
Major Resistance Level – $230
Charts address – Trading View, Bitfinex
