THELOGICALINDIAN - Key Points
Bitcoin gold amount is crumbling appear $150 adjoin the US Dollar. BTG/USD charge authority the $150-160 abutment area to balance in the abreast term.
Bitcoin Gold Price Upside Hurdle
There was no aloft upside move in bitcoin gold amount this accomplished anniversary aloft $300 adjoin the US Dollar. The amount mostly struggled to move college and started a declivity from the $340 beat high. It seems like a solid declivity is in abode from the $420 high. It has already confused beneath the 61.8% Fib retracement akin of the aftermost aloft upside from the $151 low to $420 high.
At the moment, the amount is trading able-bodied beneath the $300 akin and the 100 simple affective boilerplate (4-hours). Moreover, the amount has breached the 76.4% Fib retracement akin of the aftermost aloft upside from the $151 low to $420 high. These are abrogating signs and calling for added declines in the abreast appellation appear $150. On the upside, there is a aloft bearish trend band basic with attrition at $220 on the 4-hours blueprint of BTG/USD. The trend line attrition is actual important for a accretion aloft $250.
If the accepted drive charcoal intact, the amount will best acceptable retest the aftermost beat low of $150. The mentioned $150 abutment is actual important and charge authority to abstain any added declines.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTG/USD is now mostly in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is about the oversold levels.
Major Support Level – $150
Major Resistance Level – $220
Charts address – Trading View, Bitfinex
