# Crypto Technicals: BTG/USD slumps over 17%, hits 2-month lows at 21.50

By Anupama Grandhi

Canonical URL: https://www.tokenpost.com/news/investing/2746
Published: 2019-07-23T15:12:53.000Z
Updated: 2019-07-23T15:13:59.000Z
Section: Investing

> Technical Analysis: Bias Turning Bearish

[BTG/USD](<https://www.tradingview.com/symbols/BTGUSD/>) chart - Trading View

Exchange - Bitfinex

Technical Analysis: Bias Turning Bearish

Support: 20.32 (50% Fib), 18.37 (200-DMA), 17.43 (61.8% Fib)

Resistance: 23.90 (110-EMA), 25.72 (5-DMA), 26.27 (55-EMA)

BTG/USD has nose-dived in the past 1 hour to hit 2-month lows at 21.50.

The reason for the sudden downside is unclear as of now.

The pair has slumped over 17% on the day, bias is turning bearish.

Price action has slipped below 110-EMA support. Breaks below 38.2% Fib retracement.

Stochs and RSI are sharply lower. Volatility is rising. Bearish RSI divergence adds to the downside bias.

Bears likely to target next major support at 50% Fib at 20.32. Further weakness will see test of 200-DMA at 18.37.

For details on FxWirePro's Currency Strength Index, visit [http://www.fxwirepro.com/currencyindex](<http://www.fxwirepro.com/currencyindex>).



## Links in this article

- [BTG/USD](https://www.tradingview.com/symbols/BTGUSD/)
- [http://www.fxwirepro.com/currencyindex](http://www.fxwirepro.com/currencyindex)