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Crypto Technicals: BTG/USD grinds higher along 21-EMA, breakout at 61.8% Fib (25.74) will accentuate gains

Fri, 24 May 2019, 10:34 am UTC

BTG/USD chart - Trading View

Exchange - Binance

Support: 21.46 (21-EMA); Resistance: 26.10 (trendline)

Technical Analysis: Bias Bullish

Bitcoin Gold extends gradual grind higher along 21-EMA support, bias higher.

BTG/USD was trading rangebound, just under 1% higher at 23.33 at 10:00 GMT.

Price action is above major EMAs and daily cloud. Stochs and RSI are biased higher.

Further, 'Golden Cross' formation on the daily charts keeps bias bullish.

The pair finds stiff resistance at 25.75 (61.8% Fib). Break above finds next major resistance at 26.10 (trendline).

Decisive breakout at 61.8% Fib will take the pair higher to 78.6% Fib at 30.3595.

Break below 21-EMA will see retrace till 50-DMA. Bias will turn bearish on breach below 200-DMA.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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