THELOGICALINDIAN - Key Points
Bitcoin gold amount is mostly trading in a ambit beneath $240 adjoin the US Dollar. BTG/USD needs to breach the $240 attrition to accretion absorption against $280 and $300.
Bitcoin Gold Price Range
There were a few upside beat moves in aloft $200 in bitcoin gold amount adjoin the US Dollar. The amount activated the $240 attrition and bootless to accretion momentum. There were two attempts to barter accomplished $240, but buyers bootless to advance the amount aloft $240-250. As a result, there was a downside acknowledgment beneath $230. It bankrupt the 23.6% Fib retracement akin of the aftermost beachcomber from the $145.01 low to $241.20 high.
More importantly, there was a breach beneath a concise bullish trend band with abutment at $225 on the alternate blueprint of BTG/USD. The brace alike bankrupt the $200 abutment already and the 100 alternate simple affective average. However, the $190 abutment prevented declines forth with the 50% Fib retracement akin of the aftermost beachcomber from the $145.01 low to $241.20 high. BCH is currently affective college and is trading aloft the $200 akin and the 100 alternate SMA.
It could abide to move college against the $230 and $240 attrition levels. However, it needs to accretion drive aloft $240 to alluvion appear the $280 and $300 levels. On the downside, the $200 akin is a concise abutment followed by the $190 low.
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 currently able-bodied aloft the 50 level.
Major Support Level – $190
Major Resistance Level – $240
Charts address – Trading View, Bitfinex
