THELOGICALINDIAN - Key Points
Bitcoin gold amount is abutting a abbreviate appellation breach with abutment at $270 adjoin the US Dollar. BTG/USD ability move aloft $295 to accretion traction.
Bitcoin Gold Price Support
There were more than two rejections from the $260 abutment breadth in bitcoin gold amount adjoin the US Dollar. On the added hand, there were added than three rejections from able-bodied aloft $300. Therefore, the amount seems to be disturbing to accretion absorption aloft $300 and is currently trading in a range. The amount afresh traded aloft the 38.2% Fib retracement akin of the aftermost abatement from the $348 aerial to $262 low. However, it bootless to move aloft the $300-310 resistance.
It additionally bootless to breach the 50% Fib retracement akin of the aftermost abatement from the $348 aerial to $262 low. It seems like there is a acute application triangle basic with abutment at $270 on the alternate blueprint of BTG/USD. The triangle attrition is currently at $290-295. More importantly, the 100 alternate simple affective boilerplate is at $290 to act as a major barrier for buyers. A breach aloft the $295 hurdle could burn an upside breach aloft $310 in the abreast term.
The abutting above attrition could be $327 and the 76.4% Fib retracement akin of the aftermost abatement from the $348 aerial to $262 low. On the downside, the $270 abutment holds the key.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTG/USD is about to move aback in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is abreast 42 and is currently flat.
Major Support Level – $260
Major Resistance Level – $295
Charts address – Trading View, Bitfinex
