Crypto Technicals: BTG/USD breaks above 5-DMA, 'Hammer' formation at lows keeps scope for upside

BTG/USD chart - Trading View

Exchange - Bitfinex

Support: 6.351 (5-DMA); Resistance: 7.213 (21-EMA)

Technical Analysis: Bias slightly bullish

BTG/USD was trading 1.57% higher at 6.607 at 10:50 GMT after closing 5.37% higher in the previous session.

The pair has broken above 5-DMA (6.351) and eyes next major hurdle at 200H MA at 6.691.

Formation of 'Hammer' at lows raises scope for further upside. Technical indicators are turning slightly bullish.

Stochs and RSI have rolled over from oversold levels and are now biased higher.

200H SMA at 6.691 is immediate resistance, break above will see test of 21-EMA at 7.213.

Major trend is still bearish. Failure to hold above 5-DMA will see resumption of weakness.

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