THELOGICALINDIAN - Key Points
Bitcoin gold amount confused aloft the $230 attrition adjoin the US Dollar. BTG/USD is now a acceptable buy on dips against the $230-210 levels.
Bitcoin Gold Price Support
This accomplished week, we saw a downside reaction in bitcoin gold amount beneath the $200 abutment adjoin the US Dollar. The amount confused bottomward and traded as low as $190 area buyers appeared. They were acknowledged in arresting added losses in BTG and as a result, the amount confused aback aloft $200. The upside move was such that the amount was able to breach the $230 attrition and the 100 alternate simple affective average. This agency that the amount confused aback in the bullish area with a abutting aloft $210-230.
A aerial was formed at $277.67 from area the amount started a downside correction. It confused beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $190 low to $277 high. However, the downside move is award abutment about $250 level. The best important abutment is abreast $230 and the 100 alternate simple affective average. The mentioned akin was a resistance earlier and now it could stop declines beneath $230. The aforementioned akin is additionally the 50% Fib retracement akin of the aftermost beachcomber from the $190 low to $277 high.
Therefore, any dips from the accepted levels against $230 abide supported. On the upside, buyers could ambition the $300 handle in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTG/USD is accepting drive in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is placed able-bodied about the 60 level.
Major Support Level – $230
Major Resistance Level – $270
Charts address – Trading View, Bitfinex
