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Bitcoin Gold price prediction: BTG bearish dismissed

 


According to our last forecast, the Bitcoin Gold price was rejected at the golden ratio resistance at around USD 36 and then fell to around USD 24.

In the last Bitcoin Gold Price Forecast we wrote:

“If BTG fails to close above the golden ratio around $ 36 today , BTG 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 . Additionally, the 50-day EMA rushes around $20.7 as additional support.”


Bitcoin Gold price falls from USD 36 to USD 23.7

The Bitcoin Gold price was bearishly rejected at the golden ratio resistance around USD 36 and initially only fell to the 200-day EMA at around USD 29. However, after a lower high around USD 34, the bitcoin gold price fell below the 200-day EMA and even broke the 50-day EMA at around USD 25.3. Bitcoin Gold subsequently found support just under 2.4% above our corrective golden ratio target around $23.7 and is currently poised to break the 50-day EMA around $25.3. Then BTG will find the next significant resistance at around USD 29 and USD 33.


If BTG is rejected at this, it could return to the golden ratio support around USD 23. Yesterday, the BTG price bounced off heavily, but was subsequently rejected in a bearish manner at the 200-day EMA at around USD 29 and even closed below the 50-day EMA at around USD 25.3.


In addition, the MACD histogram is ticking bearish lower and the MACD lines are also bearish crossed over. The RSI is neutral.


Should the golden ratio support around USD 27 be breached in a bearish manner…

If the golden ratio support around USD 27 breaks bearishly, the BTG price could even return to the last low around USD 13.5 . Because BTG only finds support between USD 13.5 and USD 15.


Although the MACD lines in the weekly chart are still crossed bullishly, the histogram of the MACDs is beginning to tick bearishly lower this week. In addition, the bearish rejection at the 50-week EMA around $37 is also bearish.


Last month, the BTG price rose around 166%

Although the last month could hardly have been bullish, the BTG price seems to continue the downward trend this month. A break of the golden ratio support around $27 would suggest deeper lows.


On the upside, significant resistance awaits Bitcoin Gold between $35 and $37 . In addition, BTG finds the next significant resistance between around USD 42 and USD 49.


Against BTC, the BTG price was rejected at the 0.382 Fib level at around 0.00151 BTC

Against BTC, BTG price was rejected at the 0.382 Fib level around 0.00151 BTC and is now finding significant support at around 0.00095 BTC at the 50-week EMA and the golden ratio. Again, the MACD histogram is starting to tick bearishly lower this week while the MACD lines are still crossed bullishly. The RSI is also neutral here.


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.

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