BTG/USD chart - Trading View
Exchange - Bifinex
Support: 4.425 (Trendline); Resistance: 6.343 (5-DMA)
Technical Analysis: Bias Bearish
Bitcoin Gold (BTG) trades 4.94% lower on the day at 5.866 at 07:50 GMT.
The pair is extending weakness below 5-DMA, bias has turned bearish, scope for further downside.
'Death Cross' (bearish 50-DMA crossover on 200-DMA) confirmed on the hourly charts adds to the downside pressure.
5-DMA caps upside. Volatility is rising,, Stochs and RSI are biased lower. GMMA shows both major and minor trend are bearish.
Dip till trendline support at 4.425 likely. Further weakness only on break below.
5-DMA is immediate resistance at 6.343. Break above could see minor upside till 21-EMA (6.868).
