Bitcoin Gold Price Technical Analysis – BTG/USD Approaching Break? ByAayush JindalPRO INVESTOR Updated: 19 September 2021 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Key Points Bitcoin gold price is trading in a range above the $260-270 support area against the US Dollar. There is a crucial contracting triangle forming with support at $270 on the hourly chart of BTG/USD (data feed from Bitfinex). The pair need to move above the $290 resistance and the 100 hourly simple moving average to gain momentum. Bitcoin gold price is approaching a short term break with support at $270 against the US Dollar. BTG/USD might move above $295 to gain traction. Bitcoin Gold Price Support There were more than two rejections from the $260 support area in bitcoin gold price against the US Dollar. On the other hand, there were more than three rejections from well above $300. Therefore, the price seems to be struggling to gain traction above $300 and is currently trading in a range. The price recently traded above the 38.2% Fib retracement level of the last decline from the $348 high to $262 low. However, it failed to move above the $300-310 resistance. It also failed to break the 50% Fib retracement level of the last decline from the $348 high to $262 low. It seems like there is a crucial contracting triangle forming with support at $270 on the hourly chart of BTG/USD. The triangle resistance is currently at $290-295. More importantly, the 100 hourly simple moving average is at $290 to act as a major barrier for buyers. A break above the $295 hurdle could ignite an upside break above $310 in the near term. The next major resistance could be $327 and the 76.4% Fib retracement level of the last decline from the $348 high to $262 low. On the downside, the $270 support holds the key. Looking at the technical indicators: Hourly MACD – The MACD for BTG/USD is about to move back in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is near 42 and is currently flat. Major Support Level – $260 Major Resistance Level – $295 Charts courtesy – Trading View, Bitfinex The post Bitcoin Gold Price Technical Analysis – BTG/USD Approaching Break? appeared first on NEWSBTC. Join Our Telegram channel to stay up to date on breaking news coverage