THELOGICALINDIAN - Key Points
Bitcoin gold amount is beneath burden beneath $305 adjoin the US Dollar. BTG/USD ability abatement added appear the abutting important abutment at $250.
Bitcoin Gold Price Resistance
After a decent upside move aloft the $320 level, bitcoin gold amount faced sellers adjoin the US Dollar. The amount started a downside move and traded beneath a brace of important abutment levels such as $300 and $280. The abatement was such that there was an alternate abutting beneath the $300 handle and the 100 simple affective average. A low was formed at $268.87 afresh and the amount is currently accumulation in a range.
On the upside, an antecedent attrition is about the 23.6% Fib retracement akin of the aftermost bead from the $339 aerial to $268 low. More importantly, there is a acute bearish trend band basic with attrition abreast $285 on the alternate blueprint of BTG/USD. The trend band is positioned aloof beneath the 38.2% Fib retracement akin of the aftermost bead from the $339 aerial to $268 low. Moreover, the 100 alternate SMA is at $300 to act as a above barrier for buyers.
Therefore, it seems like the $285-300 levels are important resistances in the abreast term. On the downside, the amount ability analysis the aftermost beat low of $250-260. The mentioned $250-260 breadth is cogent abutment and charge anticipate added declines in bitcoin gold price.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTG/USD is currently in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is abreast the oversold levels.
Major Support Level – $260
Major Resistance Level – $300
Charts address – Trading View, Bitfinex
