Capitalizations Index – B ∞/21M
Russian Economic Development Minister Maksim Oreshkin has stated that while bitcoin has deflated like a “soap bubble,” it has impacted the world positively by boosting investment in new technologies. Speaking to the media on Wednesday at Russia Calling, an investment forum organised by VTB Capital, Oreshkin said that despite the woes of the crypto market, …
The post appeared first on
bitcoin gold price is moving nicely above $200 against the US Dollar. BTG/USD is now preparing for the next break with resistance at $255.
Recently, we saw a declining pattern in bitcoin gold price from the $300 swing high against the US Dollar. The price traded below the $280 and $250 support levels and moved closer to the $200 handle. A low was formed at $207 from where the price started an . It has moved above the 50% Fib retracement level of the last decline from the $275 high to $207 low.
However, the price is struggling to move above the $260 resistance level. Moreover, the 61.8% Fib retracement level of the last decline from the $275 high to $207 low also prevented gains. It seems like there is a contracting triangle forming with current resistance at $255 on the hourly chart of BTG/USD. The triangle resistance at $255-260 is a major . On the positive side, the price is currently above $240 and the 100 hourly simple moving average.
On the downside, there is a connecting trend line with support at $240. Therefore, it seems like the pair is approaching a breakout either above $255 or below $235. Above $255-260, the price could trade higher towards the $300 level. On the other hand, below $235, the price could retest $200.
Looking at the technical indicators:
Hourly MACD – The MACD for BTG/USD is slowly moving in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is moving higher towards the 70 level.
Major Support Level – $235
Major Resistance Level – $260
Charts courtesy – Bitfinex
The post appeared first on .
In the Daily: BCH Charity Anniversary, Lighting Wholesaler Takes Crypto, Atomicpay Vanity URLs In this edition of The Daily we feature the first yearly anniversary of bitcoin Cash (BCH) charity Eatbch, a move by American […]
Is Blockchain About to Become a Patent War Battleground? Last week, news of at least three major players applying for blockchain-related patents emerged: Bank of America sought to legally protect its blockchain-based system allowing the […]