THELOGICALINDIAN - Key Points
Bitcoin gold amount is affective accurately aloft $350 adjoin the US Dollar. BTG/USD is assertive to barter added college appear the $450 level.
Bitcoin Gold Price Trend
There were good gains in bitcoin gold amount aloft the $320 abutment adjoin the US Dollar. The amount acquired absorption and bankrupt a few important attrition levels like $340 and $350. It alike confused aloft the $400 akin and traded as aerial as $419.20 from area it started a downside correction. BTG beneath beneath the 38.2% Fib retracement akin of the aftermost beachcomber from the $220 low to $419 high.
However, the downside move was adequate by the $320 abutment breadth and the 100 alternate simple affective average. Moreover, the 50% Fib retracement akin of the aftermost beachcomber from the $220 low to $419 aerial additionally acted as a support. On the downside, there is a acute bullish trend band basic with abutment abreast $350 on the alternate blueprint of BTG/USD. The brace is currently placed able-bodied aloft the $340-350 abutment levels and is advancing for more gains. The trend band abutment at $350 is additionally abreast the 100 alternate simple affective average.
Therefore, any dips from the accepted levels abreast $350 will best acceptable face buyers. On the upside, a breach aloft $400 would alarm for a advance aloft $420 in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTG/USD is affective college in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is about to ability the overbought levels.
Major Support Level – $350
Major Resistance Level – $420
Charts address – Trading View, Bitfinex
