THELOGICALINDIAN - Key Points
Bitcoin gold amount is currently in a nice uptrend adjoin the US Dollar. BTG/USD ability retest $220 but charcoal positioned for added assets in the abreast term.
Bitcoin Gold Price Resistance
After forming a low abreast $150, bitcoin gold amount traded acutely college adjoin the US Dollar. The amount was able to move aloft the $200 handle and is currently trading able-bodied aloft the 100 alternate simple affective average. It traded as aerial as $260 afresh from area a accessory alteration beachcomber was initiated. The brace is currently aloof beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $204.00 low to $259.84 high.
It seems like there is a concise application triangle basic with abutment abreast $240 on the alternate blueprint of BTG/USD. The brace ability abatement a few added credibility against $230 or alike $220 in the abbreviate term. However, the 50% Fib retracement akin of the aftermost beachcomber from the $204.00 low to $259.84 aerial is acceptable to act as a abutment and prevent declines. Only a abutting beneath $220 would alarm for a retest of $200 in the abreast term.
On the upside, the triangle attrition is abreast $259. A breach aloft the $259 and $260 levels are bare for a advance appear $280. Aloft the mentioned $280, the amount could alike analysis the $300 handle.
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 affective lower against the 55 level.
Major Support Level – $230
Major Resistance Level – $260
Charts address – Trading View, Bitfinex
