Luettis
Short

BTG consolidation on low level

BITFINEX:BTGUSD   Bitcoin Gold / U.S. Dollar
The hardfork BTG has had a short but dynamic rush to its ATH at 478$.
But since the negative movement of the whole coinmarket it lost its positive trend up to today.
It has reached a very low level (78$) - what can be considered as actual bottom line of a descending triangle .

Compared to other movements in the past one should be very careful. It is not for sure, that BTG can regain strength and break up.

This analysis will be invalid in the case BTG climbs above the trend line (dotted) and reaches the last support (now resistance).

Indicators:
RSI: weak but not oversold; there is enough space for a new downfall
ADX: momentum rising but with negative DI
Volume: low (below medium)
BB: widening to bottom

buy: >108$ with aim 118$; > 118$ with aim 158$
stop: < 71$ (fib retracement 100% downgoing fib)

conclusion: no invest at the moment; HODLER´s be careful!

back to 56$
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