Crypto Technicals: Bitcoin Gold edges above 200-DMA, scope for gains till 19.50

BTG/USD chart - Trading View
 
Exchange - Bifinex

Support: 16.15(21-EMA); Resistance: 19.50 (Trendline)

Technical Analysis: Bias Slightly Bullish

- BTG/USD has managed to retrace above 200-DMA 
- Price has held support at 21-EMA (currently at 16.15), weakness likely on break below
- Technical indicators support further upside in the pair
- GMMA has shown a shift in trend with shorter term averages edging above the longer term averages
- Stochastics RSI indicator is at oversold levels, we see some bounce in the pair
- Break above 38.2% Fib (17.612) will take the pair to 19.50 (trendline resistance)
- 5-DMA at 16.70 is immediate support. Break below 21-EMA will see drag till 110-EMA at 14.82

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