Bitcoin Gold Price Analysis: BTG/USD maintains steady climb towards $11 following 10% jump


  • BTG/USD bulls have remained in control over the last two days.
  • It seems like the price has gone up based on pure speculation.
  • BTG/USD is currently overpriced so it may face bearish correction soon.

BTG/USD daily chart

BTG/USD daily chart

BTG/USD bulls stayed in control of the market for the second straight day as the price jumped from $9.95 to $10.75. The price managed to chart intra-day highs of $11.45. Over the last two days, the price has managed to jump above the SMA 20, the downward trending line, and the 20-day Bollinger Band's upper curve. 

The RSI indicator has peeked into the overbought zone, showing that the price is currently overpriced and may face bearish correction soon. The Elliott Oscillator has moved up from -0.255 to 0.1528 over the last two days following bullish price action.

Looking at the market, there is a lack of solid fundamental reasoning behind the rise in BTG/USD’s recent bullish action. It seems like the price has gone up based on pure speculation.

Support and Resistance

BTG/USD faces strong resistance at $11 and $11.35. On the downside, healthy support levels lie at $10.54, $10.25 and $10.06.

Key levels

BTG/USD

Overview
Today last price 10.751
Today Daily Change 0.87250
Today Daily Change % 8.83
Today daily open 9.8785
 
Trends
Daily SMA20 8.67942
Daily SMA50 8.9164
Daily SMA100 8.87964
Daily SMA200 8.83101
 
Levels
Previous Daily High 11.287
Previous Daily Low 7.8911
Previous Weekly High 9.5
Previous Weekly Low 8.2159
Previous Monthly High 10.65
Previous Monthly Low 8.4111
Daily Fibonacci 38.2% 9.98977
Daily Fibonacci 61.8% 9.18833
Daily Pivot Point S1 8.08407
Daily Pivot Point S2 6.28963
Daily Pivot Point S3 4.68817
Daily Pivot Point R1 11.47997
Daily Pivot Point R2 13.08143
Daily Pivot Point R3 14.87587

 


 

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