THELOGICALINDIAN - Key Points
Bitcoin gold amount has confused acutely aloft $300 adjoin the US Dollar. BTG/USD is now in the bullish area aloft $320 and is assertive for added gains.
Bitcoin Gold Price Trend
There was a decent abutment base formed about $200 in bitcoin gold amount adjoin the US Dollar. The amount traded in a ambit for a continued time aloft the $200 akin and it after started an upside move. It acquired drive and was able to move aloft the $250 and $260 attrition levels. The upside move was able and the amount succeeded in affective aloft the $300 level.
More importantly, there was a breach aloft a aloft accumbent attrition at $290 on the 4-hours blueprint of BTG/USD. The brace traded aloft the $350 akin and bankrupt aloft the 100 simple affective boilerplate (4-hour). It traded as aerial as $368 and is currently acclimation lower. An antecedent abutment on the downside is about the 23.6% Fib retracement akin of the aftermost beachcomber from the $198 low to $368 aerial at $328. However, the best important abutment is about the $290 and $300 levels. The 38.2% Fib retracement akin of the aftermost beachcomber from the $198 low to $368 aerial is additionally at $303 to act as a support.
Therefore, the $300 akin is now a above abutment and buy area in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTG/USD is acerb placed in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is accepting drive aloft the 65 level.
Major Support Level – $300
Major Resistance Level – $350
Charts address – Trading View, Bitfinex
