Bitcoin Gold Price Analysis: BTG/USD bulls remain in control, price hovers above the 20-day Bollinger Band

BTG/USD trends in an upwards channel formation.
Moving Average Convergence/Divergence (MACD) indicates increasing bullish momentum.

Rajarshi Mitra Independent Analyst

BTG/USD daily chart

BTG/USD is currently trending in an upward channel formation and is on course of charting a second consecutive bullish session. This Friday, BTG/USD went up from $5.80 to $6.25 and has gone up further to $6.65. BTG/USD is hovering above the 20-day Simple Moving Average (SMA 20) and SMA 50 curves. The price also happens to be trending above the 20-day Bollinger Band, hinting that BTG/USD is overpriced and may face bearish correction. The Moving Average Convergence/Divergence and Elliott Oscillator both show that the market sentiment is presently bullish. The Relative Strength Index (RSI) indicator is trending around 66.35, next to the overbought zone, hinting that the price may go up a bit more before facing a bearish correction.

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

Ripple technical weakness persists as selling intensifies toward $1.00

Ripple grinds lower, trading around $1.10 at the time of writing on Wednesday. The sticky bearish outlook mirrors the broader crypto market, with major coins such as Bitcoin and Ethereum facing weak demand as investors de-risk.

Crypto Today: Bitcoin, Ethereum, XRP face downside pressure amid investor de-risking

Major crypto assets trade under intense headwinds on Wednesday, as market participants navigate complex geopolitical and macroeconomic environments. Bitcoin has slipped toward $61,000 after its recent rebound was sold near $64,000, leaving buyers exhausted.

Bitcoin Price Forecast: Sticky inflation fears threaten deeper sell-off in BTC

Bitcoin extends its decline on Wednesday, trading below $61,500 at the time of writing as renewed US-Iran tensions keep the risk sentiment capped. In addition, persistent capital outflows from US-listed spot Exchange Traded Funds continue to fuel selling pressure on BTC.

Pi Network extends decline as CEX outflows fail to offset bearish pressure

Pi Network edges lower on Wednesday, extending its third consecutive day of losses. The technical outlook for PI is largely bearish, with a risk of a steeper correction below $0.1184.

Bitcoin: After the bloodbath, everyone looks at $60,000

Bitcoin (BTC) hovers above $62,000 at the time of writing on Friday, weighed down by growing risk-off sentiment due to persistent geopolitical tensions in the Middle East and sticky macroeconomic uncertainty. The institutional sell-off continued to wreak havoc on capital flows, with spot Bitcoin Exchange-Traded Funds (ETFs) recording billions in outflows.

BTG/USD daily chart

Legal Text

Editor's Picks