pwettyboy
Long

Bitcoin gold long setup

BITFINEX:BTGUSD   Bitcoin Gold / U.S. Dollar
Crypto market coming back for either a small pump or continuation of bull market. BTG             has a very interesting setup;

- After long consolidation, selling could not sustain creating a falling wedge . Price moved out of the wedge to the upside, but is still consolidating, creating a good risk to reward oppertunity. Some large buying volume started coming in, so we could see it reach 50% to 100% of the wedge beginning of the wedge . Risk reward ratio is 1:6.

- Stop loss: lower low.

- Target = 50% & 100% of wedge (see chart)

Comment: BTG reached our first target at 91$. Looking at the 4h it seems to be consolidating. This could go as low as $61, but because the low of the pullback made a hidden bull on the rsi, there is a higher probability that is has already started its next move upwards. If we break the swing high of 90x dollar, expect a sharp movement upwards to T2.
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