Skip to main content

Bitcoin Gold price forecast: BTG rises over 185 percent

 


Bitcoin Gold price is up over 165% this month and more than 185% since the June bottom . Will the BTG price continue to rise?


Bitcoin Gold price surges over 185%, hitting golden ratio resistance

Bitcoin Gold price is up over 185% so far since BTG bottomed around $13.5 in June. However, the monthly candle will close tomorrow and so far BTG is sitting below the golden ratio resistance around USD 36. A monthly close above it would indicate a continuation of the upward movement.


Can BTG price break the 50-week EMA?

In fact, the weekly candle could also close below tomorrow, which would be bearish in the near term. The BTG price briefly reached the 50-week EMA at around USD 39, which has not yet been bullishly broken. Instead, BTG seems to be turned away from it.


If the BTG price breaks the 50-week EMA, Bitcoin Gold will encounter the next significant resistance between USD 43.75 and USD 48.5. In addition, the MACD in the weekly chart is clearly bullish, because the histogram has been ticking bullishly higher for several weeks and the MACD lines are bullishly crossed. The RSI is neutral.


Bitcoin Gold price could now correct to around USD 29

If BTG price fails to close above the golden ratio around $36 today, BTG price could correct to the 0.382 Fib support at the 200-day EMA around $29. If BTG is not able to bounce off strongly there, the BTG course may correct itself to the golden ratio at around USD 23. In addition, the 50-day EMA rushes around $20.7 as additional support.


Despite the possibility that BTG could now be rejected in a bearish manner on the golden ratio, the MACD is clearly bullish on the daily chart. The histogram is ticking bullishly higher and the MACD lines are also bullishly crossed. The RSI reached overbought regions, but is giving neither bullish nor bearish signals.


Golden crossover on the 4H chart confirms the trend bullish in the short term

In the 4H chart, however, the histogram is already ticking bearishly lower and the MACD lines could also cross bearishly soon. However, the RSI is also neutral here. In addition, a golden crossover was established in the 4H chart, which confirms the short-term bullish trend.


BTG price is facing resistance against BTC at 0.382 Fib

The BTG price was able to break the 50-week EMA against BTC, which the Bitcoin Gold price has not been above since September. In addition, the MACD is clearly bullish in the weekly chart, because the histogram is ticking bullishly higher and the MACD lines are bullishly crossed.


BTG is currently encountering resistance at around 0.00151 BTC at the 0.382 Fib resistance and should BTG break the resistance, the next significant Fibonacci resistance awaits at around 0.0022 BTC.


BTG price could correct around 15.5%

Should BTG now be rejected in a bearish manner, significant Fibonacci supports await around 0.001189 BTC and around 0.00093 BTC. That implies downside potential of around 15.5% to 35%.


However, the MACD in the daily chart is clearly bullish, because the histogram is ticking bullishly higher and the MACD lines are also bullishly crossed. The RSI is neutral.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin...
Post a Comment
Read more

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne...
Post a Comment
Read more

Bored Ape Yacht Club NFTs stolen through phishing on Instagram

  Bored Ape Yacht Club ( BAYC ) developers announced on Monday that hackers have hijacked the official Instagram page of the popular NFT collection and posted links to a fake airdrop. Crypto enthusiasts who connected their MetaMask wallet to the rogue website subsequently had their Ape NFTs stolen. Apparently, the attack was planned to coincide with the one-year anniversary of the BAYC collection. This increased the "perceived credibility" of the phishing link. About 100 NFTs are said to have been stolen in the phishing attack . According to CoinGecko data , the minimum price for a BAYC NFT is 139 Ether ( ETH ) or $400,726. So if reports are correct, over $40 million worth of NFTs were stolen in the attack. These numbers are only the lowest estimate, however, as they are based on the lowest price.  At the time of writing, it was still unclear how the hackers gained access to BAYC's official Instagram account. Social media users have pointed out the importance of two-fact...
Post a Comment
Read more