Bitcoin Gold price analysis: Is the end of bear market near?
- BTG at a critical juncture on the long term charts.
- Has a long way to go before resumption of bull market.
Bitcoin Gold, the split cousin of the biggest crypto Bitcoin, is sitting at a critical juncture in its journey where if it manages to cross past certain levels, may result in this never ending bear market sooner than it seemed thus far.
BTG/USD is up more than 2 percent at $28.298, rising from the lows of $27.06 and the momentum seems to be favouring the bulls for the day. On the daily charts, BTG is sitting just above a descending trendline drawn from the highs of February.
This is the first test for the bulls if they can make a comeback and end this bear market which kept dragging prices lower each time.
BTG/USD daily chart:
Author
Manoj B Rawal
Independent Analyst
Manoj B Rawal, financial markets professional with about 11 years of experience in writing, editing and advising on stocks, currencies and fixed income.
