Bitcoin Gold is struggling to hold onto the gains accrued in the last few days. Earlier this month, BTG spiked incredibly hitting $10.50 but lost traction and slipped back under $10.00. Support was established at the 23.6% Fibonacci retracement level taken between the last swing high at $11.50 to a swing low at $7.92.
The relentless bulls forged another attack this week but this time, the price did not manage to cross above the $10.00 hurdle. For this reason, bears are taking advantage and pushing their agenda. At the time of writing, Bitcoin Gold is trading at $9.85. Mainly, all the attention among the bulls is channeled towards defending the immediate support at $9.75.
According to the prevailing technical picture, buyers could eventually outdo the sellers and force a breakout above $10.00. This follows an upward reversal of the RSI from the midline hitting levels above 60. Besides, the MACD is also in the positive region.
In other words, the technical picture is ripe for gains above $10.00 in spite of the rejection recently witnessed. However, holding the bullish action back is the lack of enough volume and low volatility across the cryptocurrency market.
Reprinted from fxstreet.com, the copyright all reserved by the original author.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.