THELOGICALINDIAN - Key Points
Bitcoin gold amount is beneath burden beneath $350 adjoin the US Dollar. BTG/USD ability extend declines and assertive to analysis the $300-280 abutment area.
Bitcoin Gold Price Resistance
After a decent upside move, bitcoin gold amount faced sellers abreast $390-400 adjoin the US Dollar. The amount started a downside move and traded beneath the $350 and $340 abutment levels. It alike traded as low as $303.76 from area a alteration was initiated. The amount is currently acclimation college appear $330. An antecedent attrition is about the 23.6% Fib retracement akin of the aftermost abatement from the $392 aerial to $303 low.
Moreover, there are two bearish trend curve basic with attrition at $330 and $335 on the alternate blueprint of BTG/USD. The aboriginal trend band is abreast $330 and it already acted as a barrier once. The additional trend band is abreast the 38.2% Fib retracement akin of the aftermost abatement from the $392 aerial to $303 low. Any upsides abreast $330-335 are acceptable to face sellers in the abreast term. Only abutting aloft $350 and the 100 alternate simple affective average ability abate the accepted bearish trend.
On the downside, a breach beneath the $303 would accessible the doors for a analysis of $280. Any added declines should be bound by a above abutment at $250.
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 currently able-bodied beneath the 50 level.
Major Support Level – $300
Major Resistance Level – $335
Charts address – Trading View, Bitfinex
