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Crypto Technicals: BTG/USD rejected at 55-EMA, minor weakness to ensue
BTG/USD chart - Trading View
Exchange - Bitfinex
Support: 8.307 (21-EMA); Resistance: 8.984 (55-EMA)
Technical Analysis: Bias turning slightly bearish
Bitcoin Gold has been rejected at 55-EMA resistance, scope for weakness below 21-EMA.
The pair has been extending sideways trade since September 25th and has likely bottomed out at 4.00 mark.
However, 55-EMA is offering stiff resistance. Breakout required for further upside.
Technical indicators have turned slightly bearish. RSI has turned and Stochs have rolled over from overbought levels.
21-EMA is immediate support at 8.307. Break below will see further weakness. Dip till lower Bollinger band at 7.202 likely.
That said, 'Bullish Divergence' will limit downside. Also, there is a gradual shift in bias and breakout at 55-EMA will aid upside.