Crypto Technicals: BTG/USD extends weakness below 5-DMA, momentum strongly bearish

BTG/USD chart - Trading View

Exchange - Bitfinex

Support: 4.50 (Trendline); Resistance: 5.873 (5-DMA)

Technical Analysis: Bias bearish

BTG/USD was trading 1.10% lower on the day at 5.671 at 07:00, after closing 2.25% lower in the previous session.

After a long period of sideways grind since September 25th, the pair is set to resume weakness.

Recovery attempts were capped at 55-EMA and the pair is on track to test fresh lows.

Momentum studies are strongly bearish. Stochs and RSI are sharply lower. MACD and ADX also support weakness.

Next major support lies at 4.50 (Trendline), break below will see further weakness till 4.00 (Sept 24 low).

5-DMA is immediate resistance at 5.886. Break above could see gains till 21-EMA at 6.360.

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