Crypto Technicals: BTG/USD set to resume upside, correction halts at daily cloud

BTG/USD chart - Trading View

Exchange - Bitfinex

Support: 27.46 (21-EMA); Resistance: 32.54 (June 26 high)

Technical Analysis: Bias turning bullish

BTG/USD spikes higher, extends gains above 21-EMA.

The pair was trading at 28.789, up 3.64% at around 13:15 GMT.

Price action has broken above 20-DMA and turn in 5-DMA to see continuation of upside momentum.

Major trend has been bullish and correction has found strong support at daily cloud and 55-EMA.

ADX is rising with positive DMI dominance and MACD is on verge of a bullish crossover on signal line.

RSI is biased higher and Stochs are on verge of rollover from oversold levels.

21-EMA is immediate support at 27.46. Break below 55-EMA support will see further weakness.

Scope for test of fresh 2019 highs above 32.54. Next major resistance lies at 55W EMA at 40.636.

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