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Crypto Technicals: BTG/USD set to resume upside, correction halts at daily cloud

BTG/USD chart - Trading View 

Exchange - Bitfinex

Support: 27.46 (21-EMA); Resistance: 32.54 (June 26 high)

Technical Analysis: Bias turning bullish 

BTG/USD spikes higher, extends gains above 21-EMA.

The pair was trading at 28.789, up 3.64% at around 13:15 GMT.

Price action has broken above 20-DMA and turn in 5-DMA to see continuation of upside momentum.

Major trend has been bullish and correction has found strong support at daily cloud and 55-EMA.

ADX is rising with positive DMI dominance and MACD is on verge of a bullish crossover on signal line.

RSI is biased higher and Stochs are on verge of rollover from oversold levels.

21-EMA is immediate support at 27.46. Break below 55-EMA support will see further weakness.

Scope for test of fresh 2019 highs above 32.54. Next major resistance lies at 55W EMA at 40.636.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

By Anupama Grandhi
  • Market Data
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