Bitcoin Gold price prediction suggests a rise in the long run till it holds the $10.00 support. However, in the current session, BTG crypto price is down by 34% which disturbs investors.
Bitcoin Gold price sustained above the 50 day and 200 day EMAs showing the trend has reversed in upward direction. But prices faced strong rejection from the higher levels and price is returning back to test the EMAs.
For more than 6 months, Bitcoin Gold price has been consolidating in a wide range between $10.00 to $20.00. Buyers tried multiple times to break the $20.00 hurdle but got rejected. It shows the strong presence of sellers on the higher levels.
Recently, BTG crypto price broke out of the higher range and expanded the range upward. Sadly, buyers are failing to hold the higher levels.
Meanwhile, Bitcoin gold price also witnessed a sudden rise in the buying volume. It shows that speculators are highly active and the recent up move might be a bull trap.
Bitcoin Gold price is trading at $16.10000 with an intraday decline of 34.13%. The 24 hour volume to market cap is 31.91%.
Will Bitcoin Gold Price Regain $30.00 in Coming Months?
Bitcoin Gold price prediction remains bullish and suggests a significant rise in the value is possible. However, in the short term, the price might trade with mild bearish bias. The prices of top cryptos – Bitcoin and Ethereum – are also turning bearish. It might negatively impact the BTG price.
Till BTG prices sustains above $10.00, the probability of a bounce back remains high. However, buyers will gain confidence when prices are able to sustain above $20.00.
On the other hand, if the price drops below $10.00, then it may raise concerns for long term investors. The technical analysis suggests Bitcoin Gold price has formed a strong base near $10.00 and the possibility of a downtrend is limited.
BTG Crypto Shows Speculative Spike
BTG crypto price showed a speculative spike which hurt investor sentiments. If formed a long tail bearish rejection candle on the weekly time frame which shows the strength of bears.
The MACD curve displayed a positive crossover and sustained above the zero line. The RSI at 55 reversed down from the overbought territory.
Conclusion
Bitcoin Gold price prediction remains bullish in the long term. Buyers attempted to break the higher range hurdle of $20.00 but faced rejection. It shows sellers are still active on higher levels. The probability of reaching $30.00 will increase when prices hold the $20.00 level.
Technical levels
- Resistance levels: $25.00 and $30.00
- Support levels: $13.00 and $10.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
