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Investing

Crypto Technicals: Bitcoin Gold holds 21-EMA support, upside resumption likely on break above 61.8% Fib (25.75)

Tue, 21 May 2019, 14:26 pm UTC

BTG/USD chart - Trading View

Exchange - Binance

Support: 20.98 (21-EMA); Resistance: 25.75 (converged 61.8% Fib and trendline)

Technical Analysis: Bias Bullish

Bitcoin Gold bounces off 21-EMA support, trades 10.15% higher at 23.78 at 14:10 GMT.

The pair has retraced from session highs at 25.58, finds stiff resistance at 25.75 (converged 61.8% Fib and trendline).

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

Break above 61.8% Fib will see next major resistance at 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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Comment 1

Comment tips

Great article. Requesting a follow-up. Excellent analysis.

0/1000

Comment tips

Great article. Requesting a follow-up. Excellent analysis.
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