THELOGICALINDIAN - Key Points
Bitcoin gold amount beneath acutely from $480 adjoin the US Dollar. BTG/USD is recovering, but ability attempt to breach the $300 level.
Bitcoin Gold Price Resistance
During the accomplished few sessions, there was a lot of activity in bitcoin gold amount (just like bitcoin cash) as it confused aloft the $400 akin adjoin the US Dollar. The amount climbed college and formed a new best aerial abreast $480. Later, it faced a lot of offers and started a downside move beneath $400. It bankrupt the 50% Fib retracement akin of the aftermost beachcomber from the $120 low to $480 high. The contempo low was at $183 from area the amount started a new upside wave.
It has confused aloft the $250 akin and the 100 alternate simple affective average. Buyers additionally succeeded in breaking the 23.6% Fib retracement akin of the aftermost bead from the $480 aerial to $183 low. On the upside, there is a abutting bearish trend band basic with attrition at $300 on the alternate blueprint of BTG/USD. The trend band attrition is abreast the 38.2% Fib retracement akin of the aftermost bead from the $480 aerial to $183 low. Therefore, the $300 akin is an important resistance for added assets in BTG.
On the downside, the $250 akin and the 100 alternate SMA are appropriate supports and buy zones in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTG/USD is attempting to move aback in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is now aback aloft the 50 level.
Major Support Level – $250
Major Resistance Level – $300
Charts address – Trading View, Bitfinex
