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Cryptoknowmics 2022-07-22 08:55:50

BTG Technical Analysis: Uptrend in Bitcoin Gold Seeks To Reclaim $30

The Bitcoin Gold (BTG) prices exceed the $20 mark as the demand increases overnight, teasing an uptrend continuation to the $30 mark. Key Technical Points: The BTG prices jumped by 24.65% in the last 24 hours. The market value of Bitcoin Gold surpasses the 100-day SMA. The 24-hour trading volume of Bitcoin Gold is $403 Million, indicating a drop of 10%. Past Performance of BTG As mentioned in our previous article, Bitcoin Gold (BTG) prices take a bullish reversal from $14.6 breaking the long-term bearish influence of a resistance trendline. The breakout rally exceeds the 50-day SMA and retests with a morning star pattern. However, the post-retest reversal helps the market value boost by 24% to reach the $24 mark. Source – Tradingview BTG Technical Analysis The Bitcoin Gold(BTG) shows a bull run of 56% in the last ten days, from the $14.6 support to breaking the 100-day SMA and reaching the $24 mark. However, the prices face an increase in supply inflow resulting in a long-wick formation above the 100-day SMA The RSI indicator reflects a phenomenal increase in the underlying bullishness as the RSI slope extends into the overbought territory. Furthermore, the 14-day SMA line crosses above the Halfway line, indicating a possibility of uptrend continuation. Furthermore, the MACD indicator showcases an increase in the bullish spread between the fast and slow lines as they cross into positive territory. Additionally, the increasing ...

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