Market Overview

BTG/USD Ignores The Bear Market Rising 4% On Friday 8

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  • The technical levels are still intact with the bulls targeting $14.00 and $15.00 hurdles.
  • BTG/USD to stay above the support at $13.00 and possibly correct towards $14.00.

The crypto market is generally in the red apart from a few assets like Bitcoin Gold (BTG) and Litecoin (LTC). Bitcoin Gold is seen changing hands at $13.16. The digital asset has added 4% to its value amid the bear pressure on the market.

The low trading activity comes after most of the cryptos corrected from the declines on Monday. However, the gains on Tuesday were not enough to stage a significant recovery above the critical resistance levels. Bitcoin Gold, for example, corrected from last week’s low at $11.62, re-entered the ascending channel but failed to overcome the resistance at $13.00.

Bitcoin Gold was stuck in a sideways trend above the channel support until the breakout today that has seen it add more than 4%. The technical levels are still intact with the bulls targeting $14.00 and $15.00 hurdles. The Relative Strength Index (RSI) still in the oversold while the MACD is at +2335; the same it was on March 5 and February 23. Expect BTG/USD to stay above the support at $13.00 and possibly correct towards $14.00. However, the most likely movement is to remain sideways in the range between $13.00 and $14.00.

BTG/USD 1-hour chart

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Posted-In: Bitcoin CryptoCryptocurrency News Forex Global Markets General

 

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