Falling wedge, included possible pathing within the wedge however this is hard to decipher so i just used a double curved line! TP is $50! IF you check out my last post I explain how ERC-20 tokens have much greater scalbility and will provide much greater returns. But if you are a bitcoin fan, this is for fun!
Bitcoin Gold has formed a descending scallop against the bitcoin pair. Descending scallops have been surprisingly successful in the cryptocurrency market, possible due to the large abundance of the pattern. This is a bullish reversal pattern. Blue box indicates buy zone on EMA line.
Just wanted to share an observation. Possible BTGUSD Inverse Heads and Shoulders bullish pattern forming on the daily chart.
This alone does not carry much weight however, if you look at the ETHUSD chart (refer to link below), the 50EMA is close to crossing the 100MA. Historically the crossing if these lines on the daily chart signals a possible long-term...
Currently sitting near the bottom of the regression trend, a bullish break for this cryptocurrency would be massive, and a 50 PT is appropriate. Included fib extensions for reference, and also a EMA level for a possible breakdown. 0.82 regression uptrend.
BTG short-term must be over as the price broke the trend-line resistance,
if this candle closes bullish there is a chance it will move upward up to 1600 - 1800 sats regions
before it will decide to continue higher or come down retest previous swing low.
BTG has skyrocketed to the moon with over 300% pump on a single candle.
It pierced through 200D MA like it was nothing there but found its major resistance area from Jan - July 2019 trading activity.
We know when an asset pumps hard it will dump hard too, so be very careful and not to FOMO right now.
I have highlighted below two key areas where BTG could...
1. As we can see, BTG has drawn 3 bullish drive patterns.
2. The first resistance target is around $ 17
3. Be careful if the price drops below $ 12, it'll potentially change to a downtrend on the daily chart.
Good Luck :)
Bitcoin Gold Correction Cames on the Fib Level 0.618 Level then we will do Long Position as well as Given Below-
Sell- 0.004700 , 0.005500
Stop Loss- 0.003700
Let See , What Will be Next Move.
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Warning- I m Not a Financial Advisor this idea Only For...