Situation on BitcoinGold is the same as on Bitcoin
BTGUSD is in balance now. After fix volumes we have a wide consolidation (balance) with the range 72-133.
A new mid-term (or even long-term) uptrend will begin if this balance breaks out.
Within the balance we must work from its levels (main resistance and support zones).
For now you can trade only intraday with a short targets.
Glossary of terms
- Point of Control (P O C) – The price level for the time period with the highest traded .
- Value Area (V A) – The range of price levels in which a specified percentage of all was traded during the time period. Typically, this percentage is set to 70% however it is up to the trader’s discretion.
- Balance - Accumulation Area.
- F L - flat level.
- T L - trend level.
- Fixing (fix, culmination) - reverse price reaction then the markets stops i'ts movement for a short time. The trend stops when it passes through 2-3 fixing movement.