THELOGICALINDIAN - Key Points
Bitcoin gold amount is disturbing a lot beneath $220 adjoin the US Dollar. BTG/USD ability extend declines and acceptable to barter against $160-150.
Bitcoin Gold Price Resistance
There was a no recovery in bitcoin gold amount aloft the $280 attrition adjoin the US Dollar. The amount started a downside move afterwards declining to move aloft the $280 attrition and the 100 alternate simple affective average. It traded abutting to the $150 akin and formed a low abreast $157.49. At present, the amount is acclimation higher, but disturbing to breach the 23.6% Fib retracement akin of the aftermost abatement from the $280 aerial to $157 low.
It seems like there is a crumbling approach basic with attrition at $220 on the alternate blueprint of BTG/USD. The brace is acceptable to abide in a declivity until there is a breach aloft $220. Before $220, the $200 akin and the 38.2% Fib retracement akin of the aftermost abatement from the $280 aerial to $157 low are additionally hurdles. Aloft $220, the 100 alternate simple affective average is positioned abreast $230 to act as a barrier.
Overall, there are abounding hurdles for buyers starting with $200 up to $240. On the downside, the best important abutment is abreast $160 and $150. Any added declines could see affairs absorption aloft $150, but limited.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTG/USD is not assuming any above bullish signs.
Hourly RSI (Relative Strength Index) – The RSI for BTG/USD has aloof confused aloft the 50 level, but with a divergence.
Major Support Level – $160
Major Resistance Level – $220
Charts address – Trading View, Bitfinex
