Bitcoin Gold breaks several resistance zones including, the trendline, the moving averages and $10.00. BTG/USD overbought conditions suggest a shift in the focus from breaking $12.00 resistance to defending $10.00 support. Bitcoin Gold is the biggest double-digit gainer on Monday during the Asian session. The digital asset is up 10.12% on the day to trade at $10.87 following an upward adjustment from $9.95 (opening value). Glancing up, an intraday high has been reached at $11.44 (temporarily) halting the momentum. On the other hand, Bitcoin is barely holding above the short term support at $9,100. It has become an uphill task to sustain the price above $9,200 resistance zone. BTC/USD is trading at $9,125 after a 0.11% gain on the day. The other major cryptocurrencies are not any different from Bitcoin as they are also dealing with stronger bearish arms. For instance, Ethereum is up 0.36% to trade at $225 while Ripple is up 0.41% to exchange hands at $0.1770. The rest of the market is mixed red and green. Bitcoin Gold technical analysis Bitcoin Gold has indeed spiked incredibly on the first day of the new week’s trading. The daily chart shows an engulfing candle from the support at $8.00. The momentum cleared the resistance at both the 50-day SMA and the 200-day SMA. The bullish leg extended above a key descending trendline before taking down the seller congestion at $10.00. For now, the biggest fight is to sustain the price above $11.00 and extend the bullish leg above $12.00. Unfortunately, further gains are unlikely to come into the picture especially with the RSI already showing overbought conditions. In this case, attention is likely to shift to defending support at $10.00. The MACD, on the other hand, clearly shows that BTG is poised for sideways price action. The indicator also features a bullish divergence which highlights that buyers still have substantial influence over the price. BTG/USD daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/JPY Price Analysis: 50-day SMA again proves a tough nut to crack FX Street 2 years Bitcoin Gold breaks several resistance zones including, the trendline, the moving averages and $10.00. BTG/USD overbought conditions suggest a shift in the focus from breaking $12.00 resistance to defending $10.00 support. Bitcoin Gold is the biggest double-digit gainer on Monday during the Asian session. The digital asset is up 10.12% on the day to trade at $10.87 following an upward adjustment from $9.95 (opening value). Glancing up, an intraday high has been reached at $11.44 (temporarily) halting the momentum. On the other hand, Bitcoin is barely holding above the short term support at $9,100. It has become an uphill task… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
