mdyassink
Long

BTGUSD Bullish Cross 50EMA 100MA Long-term Uptrend Signal

BITFINEX:BTGUSD   Bitcoin Gold / U.S. Dollar
BTGUSD has just recently had a bullish cross of the 50EMA and 100MA Moving Averages which historically is an excellent long-term bullish or bearish trend signal.

BTGUSD has already formed a bottom and had a strong movement upwards on Jan 15th. After this retrace and minor correction there is a possibility that BTGUSD is on its way to test the strong resistance at around $32-$33. This will be the third test and if this resistance is broken $80+ is on the cards. Afterwhich I believe there will be a consolidation period before further upwards moves into the $145-$147 region.

First things first, lets see if BTG is able to break the stubborn $32-$33 resistance the third time round.

BTG is a fork of BTC which aims to co-exist and it offers decentralised mining to the everyday people. There is no need for the expensive mining systems with this coin. A gaming graphics card will do just fine. It also offers many benefits and amongst all the bitcoin forks it also offers the cheapest transaction fees and has a very strong community too.

It is also an excellent hedge against the possibility and threat of centralised mining of bitcoin by self-interest miners. Is this happening now? No, but it is always a possibility. There are articles out there that have been warning of this. At the moment, there is no real danger and furthermore it is my believe that the existence of BTG dissuades this kind of action. These are just my thoughts.

Before you decide to invest please read all about Bitcoin Gold. You can also visit Bitcoin Gold Telegram Channel and chat with the friendly admins and community there.

This is not trading or financial advice. Please do your own research.

Comments

thanks
+1 Reply
mdyassink zackefron
@zackefron, Most welcome and thanks for dropping in.
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Good job
+1 Reply
mdyassink Saeed966
@Saeed966, thanks for the generous compliments bro.
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Thanks
+1 Reply
mdyassink Saeed966
@Saeed966, Your most welcome. Thanks for dropping in. Have a great weekend!
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