THELOGICALINDIAN - Key Points
Bitcoin gold amount is boring accepting clip aloft $220 adjoin the US Dollar. BTG/USD charge bright the $270 and $290 hurdles to accretion traction.
Bitcoin Gold Price Support
There was a sharp downside move in bitcoin gold amount from the $420 aerial to $192 low adjoin the US Dollar. Later, the amount formed a appropriate abutment abject and confused aloft $200. It has formed a acceptable abject aloft the $200 akin and is currently trading in a ambit aloft $200-220. It afresh succeeded in breaking the 23.6% Fib retracement akin of the aftermost bead from the $420 aerial to $192 low.
However, there are two important attrition basic on the upside at $270 and $290. Both acted as a aloft barriers for added gains. Moreover, there is a aloft bearish trend band basic with accepted attrition at $270 on the 4-hours blueprint of BTG/USD. The trend band attrition is aloft the 100 simple affective average. The accepted amount action is positive aloft $240. Therefore, there is a adventitious that BTG could move aloft $270. However, the $290 attrition is the abutting barrier forth with the 50% Fib retracement akin of the aftermost bead from the $420 aerial to $192 low.
A able abutting aloft the $300 akin is appropriate for buyers to accretion momentum. As continued as the amount is beneath the $300 level, there can be added alignment moves amid $220-290.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTG/USD is hardly in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is affective college against the 70 level.
Major Support Level – $220
Major Resistance Level – $290
Charts address – Trading View, Bitfinex
