Is Momentum Changing for Bitcoin Gold? Price Just Crossed Above Its 200 Day Moving Average

The Hourly View for Bitcoin Gold

  • At the moment, BTG’s price is down $-2.35 (-3.67%) from the hour prior.
  • Bitcoin Gold has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe.
  • 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

  • At the time of this writing, BTG’s price is down $-5.58 (-8.33%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Bitcoin Gold has now gone down 4 of the past 5 days.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Most noteworthy in the world of moving averages on the daily chart is that the 100, 200 and 50 day moving averages have been crossed, with price now being 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.

Below is a daily price chart of Bitcoin Gold.

BTG

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