Bitcoin Gold Price Technical Analysis

Bitcoin gold price is slowly recovering
with resistance at $250 on the hourly chart of BTG/USD (data feed from Bitfinex).but it could face sellers near the $240 and $250 resistances.

bitcoin gold price started a recovery against the US Dollar. The price moved higher and broke the $200 resistance level to set the pace for more gains.

The $218 level is also the 38.2% Fib retracement level of the last decline from the $340 swing high to $143 low. Above the $220 level, there is a major bearish trend line forming with resistance at $250 on the hourly chart of BTG/USD. The trend line resistance around $250 is the most important barrier for buyers on the upside.

Looking at the technical indicators:

Hourly MACD – The MACD for BTG/USD is slowly moving in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is moving higher towards the 60 level.

Major Support Level – $200

Major Resistance Level – $250

Charts courtesy – Trading View, Bitfinex

source of article:https://www.newsbtc.com/2018/01/19/bitcoin-gold-price-technical-analysis-btg-usd-approaching-key-support/

Disclaimer: This #article should not be taken as, and is not intended to provide, #investment #advice. Please conduct your own thorough research before #investing in any #cryptocurrency.