Bitcoin Gold Trend May Be Changing as Price Just Breached Above Its 20 Day Moving Average

The Hourly View for Bitcoin Gold

  • At the time of this writing, BTG’s price is up $0.28 (0.44%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved down.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • Of note is that the 200 hour changed directions on BTG; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Bitcoin Gold’s hourly price chart is shown below.

BTG

The Daily View for Bitcoin Gold

  • Currently, BTG’s price is down $-2.57 (-3.85%) from the day prior.
  • This is the 3rd day in a row Bitcoin Gold has seen its price head down.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 100 and 20 day moving averages have been crossed, so that price is now turning below them. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between BTG’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in BTG’s price.

Below is a daily price chart of Bitcoin Gold.

BTG

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