THELOGICALINDIAN - Key Points
Bitcoin gold amount bootless to breach $300 adjoin the US Dollar. BTG/USD is now beneath burden and it ability abatement appear $200-180.
Bitcoin Gold Price Upside Hurdle
After a awful upside ride, we saw a appropriate decline in bitcoin gold amount appear $180 adjoin the US Dollar. Later, the amount started an upside correction, but bootless to move aloft the $270-280 levels. It seems like the amount bootless to achieve aloft the 23.6% Fib retracement akin of the aftermost abatement from the $478 aerial to $183 low. Moreover, yesterday’s accent abutting bearish trend band with accepted attrition at $225 on the alternate blueprint of BTG/USD acted as a above hurdle.
The aforementioned trend band is still complete and preventing assets aloft $220-230. The affliction affair is the actuality that the amount is now beneath the 100 alternate simple affective boilerplate and juts captivation $200. It won’t be accessible for buyers to advance the amount aloft $230. Aloft $230, the abutting aloft hurdle is abreast $270. Only a abutting aloft $270 would alarm for a analysis of the 50% Fib retracement akin of the last decline from the $478 aerial to $183 low at $330.
On the downside, the $200 handle and the $180 beat low are appropriate abutment levels for the accepted decline.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTG/USD is aback in the bearish zone, assuming abrogating signs.
Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is currently abreast 40 with no assurance of a recovery.
Major Support Level – $180
Major Resistance Level – $230
Charts address – Trading View, Bitfinex
