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Crypto Technicals: Bitcoin Gold hits 5-month lows below $13, momentum studies bearish

Thu, 22 Aug 2019, 06:03 am UTC

BTG/USD chart - Trading View

Exchange - Bitfinex

Support: 10.886 (88.6% Fib); Resistance: 15.548 (21-EMA)

Technical Analysis: Bias Bearish

Bitcoin Gold trades 1.36% lower on the day at $13.15 at 05:40 GMT, bias bearish.

Price action has edged higher from 5-month lows at 12.511, is extending weakness for the 6th straight week.

Momentum is strongly bearish. Oscillators are in oversold territory, but no signs of reversal seen.

Major and minor trend in the pair are bearish as confirmed by GMMA indicator.

Price action hovers around 78.6% Fib (13.33). Resumption of downside will see test of 88.6% Fib at 10.88.

On the flipside, 21-EMA (15.548) is strong resistance, break above could see some upside.

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  • Bitcoin (BTC) $9,661.49 (+0.51%)
  • Ethereum (ETH) $259.45 (+0.36%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $377.92 (-0.24%)
  • Bitcoin SV (BSV) $289.79 (-2.22%)
  • Bitcoin (BTC) $9,661.49 (+0.51%)
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