THELOGICALINDIAN - Key Points
Bitcoin gold amount is in a bearish trend beneath $320 adjoin the US Dollar. BTG/USD is captivation $250, but charcoal at a accident of added declines.
Bitcoin Gold Price Barrier
There was no respite for bitcoin gold amount as it remained beneath the $350 axis adjoin the US Dollar. The amount fabricated a downside move and traded beneath the $320 and $300 abutment levels. The abatement was able and the amount alike activated the $250 abutment area. A low was formed at $252.44 from area a alteration was initiated. It confused aloft the 23.6% Fib retracement akin of the aftermost abatement from the $346 aerial to $252 low.
However, the upside move was bound by the $300 resistance. Buyers bootless to advance the amount aloft $300 and $310 attrition levels. The 50% Fib retracement akin of the aftermost abatement from the $346 aerial to $252 low additionally acted as a above hurdle. Moreover, a above bearish trend band with accepted attrition at $290 on the alternate blueprint of BTG/USD additionally prevented upsides. It seems like the brace is adverse a lot of hurdles on the upside abreast $300 and $320.
As continued as the amount is beneath $300 and $320, it ability abide to move down. On the downside, the $250 abutment is actual important followed by the $220 level.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTG/USD is about to move aback in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is still beneath the 50 level.
Major Support Level – $250
Major Resistance Level – $300
Charts address – Trading View, Bitfinex