THELOGICALINDIAN - Key Points
Bitcoin gold amount is adverse affairs burden about $260 adjoin the US Dollar. BTG/USD ability abide in a declivity appear $200.
Bitcoin Gold Price Decline
There was no aloft recovery in bitcoin gold amount aloft the $300 akin adjoin the US Dollar. The amount bootless to authority the $300 abutment and beneath further. There was alike a breach beneath the $250 abutment breadth and a advance appear the $200 handle. A low was formed at $209.37 from area the amount started a accessory correction. It has confused aloft the 23.6% Fib retracement akin of the aftermost abatement from the $310 aerial to $209 low.
However, it is adverse abounding hurdles on the upside abreast $260. The burst abutment at $255-260 is now acting as a attrition and preventing gains. There is additionally a above bearish trend band in abode with attrition at $255 on the alternate blueprint of BTG/USD. Moreover, the 38.2% Fib retracement akin of the aftermost abatement from the $310 aerial to $209 low is currently acting as a resistance at $248.
Therefore, a breach aloft the $255-260 levels won’t be easy. Should the amount abort to move aloft the $260 level, it could abatement aback appear the $200 handle. Any added losses should be bound because the accepted bazaar conditions. On the upside, a breach aloft the $260 akin would advance the amount appear the $280-290 levels.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTG/USD is now aback in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is about the 50 level.
Major Support Level – $210
Major Resistance Level – $260
Charts address – Trading View, Bitfinex
