Rajarshi Mitra
Independent Analyst
- BTG/USD went up from $7.80 to $9.36 this Wednesday.
- SMA 50 and SMA 200 have diverged away from each other to prevent the formation of the death cross.
BTG/USD daily chart
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BTG/USD bulls have remained in control in the early hours of Thursday as the price went up from $9.36 to $9.60. However, the price did break past the $10 psychological level earlier in the day before it immediately retreated. The price is hovering above the 20-day Bollinger Band, indicating that the asset is currently overpriced and a bearish correction may be around the corner. The 20-day Bollinger has widened considerably as well, which shows increasing price volatility. On the downside, the RSI is trending around 67.18, right next to the overbought zone. The SMA 200 was about to cross over the SMA 50 to chart the highly bearish death cross pattern. However, the two curves have since diverged from each other.
Key levels
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