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Crypto Technicals: Bitcoin Gold halts upside with 'Gravestone Doji' at 55-EMA, minor correction likely before next leg higher

BTG/USD chart - Trading View 

Exchange - Bitfinex

Support: 8.217 (21-EMA); Resistance: 9.031 (55-EMA)

Technical Analysis: Bias turning slightly bearish

Bitcoin Gold has paused upside at 55-EMA resistance and formation of 'Gravestone Doji' at highs adds to bearish bias.

The pair has been extending sideways trade since September 25th and has likely bottomed out at 4.00 mark.

There is a gradual shift in bias and breakout at 55-EMA will aid further gains. 'Bullish Divergence' also supports further upside.

Oscillators have approached overbought levels and the pair might see minor bearishness before upside resumption.

Dip till 20-DMA at 8.014 likely. Further weakness could see test of lower Bollinger band at 7.047.
 

By Anupama Grandhi
  • Market Data
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