Bitcoin Gold uptrend continued above $22.00

Bitcoin Gold uptrend continued above $22.00

Bitcoin Gold uptrend continued above $22.00 (current support) to achieve intraday highs of $22.59.
According to CoinMarketCap, the majority of Bitcoin Gold trading volume goes through HitBTC in BTG/BTC trading pair."Bitcoin Gold uptrend continued above $22.00"
Bitcoin Gold revamped the uptrend after the recent declines that found support above $20.00. BTG/USD remained range bound with the upper limit at $22.00. However, the trading yesterday initiated an uptrend support by both the 50SMA and the 100SMA slightly above $20.50 on the hourly chart. Bitcoin Gold has been trading higher highs and higher lows, besides breaking above the 22.00 resistance gave the buyers a boost.

Bitcoin Gold uptrend continued above $22.00

Bitcoin Gold is ranked 28th in the market and according to that data on CoinMarketCap it has a market capitalization of $360 million; a slight growth from $334 million at the close of the trading session on Monday 27. The asset is up over 6% in the last 24 hours while its trading volume stands at $7.7 million. Most of Bitcoin Gold trading volume takes place on HitBTC which recently controlled 26.75% of the volume in BTG/BTC pair.

Bitcoin Gold exchanged hands as high as $22.59 before starting to correct lower. The buyers are doing the best they can to keep the gains above $22.00. The bullish trendline has been a very vital anchor to the price. A look at the chart shows a series of bounces from the trendline. If the weak support at $21.00 fails to hold, the trendline will prevent a drop towards the resistance turned support level at $22.00.'Bitcoin Gold uptrend continued above $22.00'

Consequently, the 50SMA currently at $22.77 and the 100SMA currently at $22.33 are possible support lines above $22.00. The stochastic is heading downwards but currently at 35.18%. The sellers have the control at the moment and the widening gap between the moving averages confirms the bearish trend.

Bitcoin Gold uptrend continued above $22.00 Bitcoin Gold uptrend continued above $22.00 Reviewed by mir khaleq ali on August 29, 2018 Rating: 5

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