Bitcoin Gold price analysis: Defies market bear pressure, reignites uptrend towards $30.00
|- Bitcoin Gold battered buyers get a breather a bullish momentum returns.
- Bitcoin Gold price cleared the resistance at $25.00; eyes are on $30.00 in the near-term.
Bitcoin Gold is currently trading in the green amid fresh market declines on the first day of the week. The majority of virtual currencies are making lower corrections while canceling the slight gains accrued on over the last weekend. The uptrend has overcome the resistance at $25.00 using the support at the 50% Fib level between the highs of $25.68 and the lows of $23.55 close to $24.60.
Currently, $28.00 is the immediate resistance, the bulls are looking forward to $30.00 in the near-term while the ultimate resistance stands at $32.00. The 100 simple moving average is crossing above the short-term 50 SMA to signal that the sellers are seeking an entry. Similarly, the stochastic is in the overbought but showing signs of reversal.
A break and support above the short-term at $28.000 resistance is instrumental into the buyers who have been languishing in selling pressure in the past couple of weeks. On the flipside, a support is highlighted at $25.40 and $25.00 respectively.
BTG/USD 15’ chart
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