Crypto Technicals: Bitcoin Gold pauses downside at 61.8% Fib, retrace above 200-DMA (18.77) could see further bounce

BTG/USD chart - Trading View

Exchange - Bitfinex

Support: 17.43 (61.8% Fib); Resistance: 18.77 (200-DMA)

Technical Analysis: Major trend - bearish; Minor trend - neutral to slightly bullish

Bitcoin Gold pauses downside at 61.8% Fib, edges higher on the day.

BTG/USD was trading at 18.29 at 12:15 GMT, up 3.71% at the time of writing.

Price action has tested 200-DMA at 18.77, retrace above could see further bounce.

Oscillators are at oversold levels and are on verge of rollover into neutral zone.

That said, major trend has shifted to bearish as indicated by GMMA indicator.

Upticks could be limited. Retrace above 200-DMA could see bounce till 21-EMA at 20.965.

Rejection at 200-DMA will see continuation of weakness. Next major support below 61.8% Fib lies at lower BB at 14.08.