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Price Prediction

Bitcoin Gold Analysis: Will BTG Price Bounce Above Hurdle?

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  • The price of BTG is trading at $14.49.
  • The BTG price increased by 1.32% in the last 24 hours.
  • The BTG year-to-date return is +23.88%.

Weekly Trend Analyzation

This week the trend was bullish as the price was up by 26.06%. By movement and price information history, we can say that BTG performed well this week. 

Monthly Trend Analyzation

This month the trend was bullish as the price was up by 17.83%. We can say that BTG performed well this month by movement and price information history. 

All-Time History Analyzation

The coin’s value plummeted by more than 90% in all-time history, giving low returns to the investors’ money. 

Chart Analyzation In 1-D Timeframe

Chart Analyzation In 1-D Timeframe
Source: BTG /USD.1D.BITFINEX by TradingView

Trendline Analyzation


As per the trendline, it seems it is respecting multiple support and resistances very well. As observed on the chart, the BTG price gave a breakout recently from the trendline and can go upwards shortly. This appears to be bullish. So, the price of BTG can reach $18.84 soon, which is the nearest major resistance, and try to break the current opposition.

MACD


MACD line crossing above zero is a bullish signal indicating upward momentum and a price increase. When the MACD line crosses above the zero line, it suggests that the short-term EMA is higher than the long-term EMA and is seen as a bullish signal. This indicates that the current momentum is positive, and the price may increase.

EMA 


The price stayed above 20 & 50 EMA, which gives quite an idea that buyers are ready to buy the stock at every cost. But recently, as we observed on the chart, it was facing rejection around 200 EMA; it might be a temporary pullback after that and may continue the upward trend. This suggests that the price might enter a bullish direction; the coin’s value may grow even further in the upcoming week.

RSI


When RSI moves above 70, it indicates that prices may rise too far too fast and should soon start to drop.
When it moves below 30, it indicates that prices have dropped too far too fast and should soon start to rise.
Since it’s between 70 & 30, it is interpreted that when the RSI is above 50, it is a buy signal, and below 50 is a sell signal. As observed on the chart, the values seem above 50, so we can say it is a buy signal. The RSI line is in a bullish zone, i.e., trading above the median line. The market is bullish since the 14 SMA and RSI lines are above the median area.

Bollinger Band


The BTG coin price is trading at the upper band in the Bollinger Band indicator. It indicates an upward move.

Bollinger Band
Source: BTG /USD.1D.BITFINEX by TradingView

Volume Analyzation

The amount of BTG traded in a day is $26.47K. It fell by 40% since the last day. As observed from the volume graph, the trading activity is decreasing in the stock, but the price is sustained. We get quite an idea that it is a momentary fall in volume. The price will show momentum again once volume re-enters. It can push the price up due to the considerable volume present in the market. 

Conclusion

Currently, the technical parameters for the BTG coin indicate bullish pressure. The views of traders and investors are bullish. If the price continues to move under the buyer’s control, it will rise more from the current levels. The sentiments of investors and traders are bullish regarding the cost of coins in the 1D timeframe.
Bitcoin Gold’s (BTG) price reflects a favourable condition right now. Major legitimate indicators like MACD, RSI, and EMA flaunt positive BTG signals.

Technical Levels:

  • The Nearest Support level is $0.263.
  • The Nearest Resistance level is $0.549.

Disclaimer

In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

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