Preface - don't enter long now, at the price of posting, this is a long idea at ~320-296
Why I think this:
Short-term bearish indicators
-Bearish RSI divergence on shorter candle lengths (blue line on RSI graph)
-Bearish MACD divergence seen on longer candle lengths (4h for example)
-RSI showing a lower low for each lower low, showing a likely continuation...
$338 has mild support could be a good entry point. It's only bounced off the 0.618 level a couple times meaning mild testing. Watch btg closely, could reach ATHs ny the end of the week
If the trend continues then we can reach it. No drastic falls, the price is stable, and ready to go up. Indicators started to fall to the over sold area, and we have a simmilar pattern like on the 300$. You can see side move, but the trend can change fast. If you have btgs or if you are planning to buy some then be prepare to overbreak, and be careful.
I ended up with a few BTG coins after the split and I'm pretty happy now that I didn't sell them straight away. Here's a 2 hour chart long outlook. I would expect some kind of correction here and then a bullish move higher to the $600 range. After that we'll see I guess. You could always sell here and wait for the correction to get a better position but I'm...
We are currently at a crucial point in BTG. The correction from the $477 high may have completed at $150 or we are seeing a sharp ZIG ZAG correction unfolding that should terminate at the $420 zone and head back down.
Pushing to a new high would of course void this outlook and we can consider higher prices to come as we head into Primary 3
Follow up to a previous post...
Outlined these trendlines earlier and suggested the price was moving to the upper trendline. This trendline is now bit of a resistance level. I'm not selling right now, a break through this trendline will be exciting. No price target atm, not appropriate to draw fib retracements right now.
Bitcoin gold short chart view is showing us some support below, but not a strong one as this is new coin with lots of bears inside who wants to sell and move to BTC or other coins. If we move again to resistance - yellow mark, I would be seller here and wait again for a pull back. Expect some wild runs on this one as we need to get clear picture where this is...
Currently price is trading at the edge of a major classic fibo support. If we can stay above this level ($157) it could trigger a bullish rally taking out resistance levels along the way. AB=CD harmonic pattern suggests trading is to be expected above $577 within the next 19 days. Thus, MIN TP can be set at the $677 fibo extension, and its possible to look higher...
