THELOGICALINDIAN - Key Points
Bitcoin gold amount bankrupt a above abutment breadth at $150 adjoin the US Dollar. BTG/USD could actual higher, but upsides abide capped by the $200 akin in the abreast term.
Bitcoin Gold Price Resistance
There was no major recovery aloft $220 in bitcoin gold amount adjoin the US Dollar. The amount faced a lot of affairs burden and it beneath beneath the $200 abutment as well. The abatement was such that the $180 abutment was additionally pierced. It traded as low as $150.88 and after it started an upside correction. It activated the 23.6% Fib retracement akin of the aftermost bead from the $338 aerial to $150 low.
However, there are abounding resistances on the upside about $200. There is additionally a concise abutting bearish trend band basic with attrition at $185 on the alternate blueprint of BTG/USD. Aloft the trend band resistance, the $200 akin is a aloft resistance. It was a abutment beforehand and now it may stop assets aloft $200-210. Should there be a abutting aloft $200, the amount could analysis the 50% Fib retracement akin of the last drop from the $338 aerial to $150 low.
Overall, there is a lot of burden on BTG and it could face a lot of offers abreast $200. If it fails to breach $200, there is a adventitious of it breaking $150 as well.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTG/USD is assuming bearish signs in the abrogating zone.
Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is hardly affective college appear the 40 level.
Major Support Level – $150
Major Resistance Level – $200
Charts address – Trading View, Bitfinex
