Bitcoin Gold Technical Analysis: BTG/USD pokes through $11 after a massive 10% rally
|- BTG/USD is up 10.4% in the last 24 hours.
- BTG hit a high of $11.44, the highest point since the beginning of March.
BTG/USD had an explosive bull breakout on June 28 going from a low of $7.89 to $11.28. On June 29, BTG saw a continuation towards $11.44 but got rejected again droppìng to the current level of $10.21 still way above the daily 12-EMA and the 26-EMA which have just crossed bullishly.
BTG/USD 4-hour chart
Clearly, BTG has changed its 4-hour trend to an uptrend and it’s now looking for a healthy consolidation before another leg up. The levels to watch are $10.78 resistance level and the $11 psychological level as well as the high at $11.44. For support, BTG can use the $9.44 low and the 12-EMA currently established at $9.5 followed by the 26-EMA at $9.08.
BTG/USD 1-hour chart
-637290420826820296.png){kind=link}
The hourly chart is inside an equilibrium pattern that had a small fakeout towards $9.4. Buyers are no pushing BTG towards $11 and if they fail, they will establish a clear lower high and confirm the equilibrium pattern.
BTG/USD technical levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.