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Bitcoin Gold Price Analysis: BTG/USD has a bearish session following five straight bullish sessions

  • BTG/USD is currently sitting on the upper curve of the 20-day Bollinger Band.
  • The Relative Strength Index (RSI) indicator dropped from 64.85 to 56.75.
Bitcoin Gold Price Analysis: BTG/USD has a bearish session following five straight bullish sessions
Rajarshi MitraRajarshi MitraIndependent Analyst

BTG/USD daily chart

BTG/USD daily chart

BTG/USD had a bearish session this Thursday after charting five straight bullish sessions. Currently, BTG/USD has dropped from $6.14 to $5.98. The latest price session is sitting on the upper curve of the 20-day Bollinger Band and is hovering above the 20-day Simple Moving Average (SMA 20) and SMA 50 curves. The Moving Average Convergence/Divergence (MACD) shows sustained bullish momentum, while the Elliott Oscillator has had five straight green sessions. The bulls will need to protect the $5.89 support line to prevent further downward movement.
 

Author

Rajarshi Mitra

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.

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