10 June 2023 : In this article we will walk you through Bitcoin Gold price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Bitcoin Gold, Is BTG a good investment? Bitcoin Gold support & resistance levels etc. But before diving deep into the BTG technical analysis, let us talk about the current market conditions.
Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,043,144,194,042. The total trading volume stands at $48,434,317,917. Bitcoin shares 47.7 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $25,658.77 level after a decline of -3.71%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -5.64 percent reaching to $1,744.65 during the previous 24 hours.
While publishing this blog, BNB traded at $236.43, following a price change of -9.82%within the same time frame. XRP the native coin of XRP is down by -8.67 and currently trading at $0.49. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.
Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Bitcoin Gold (BTG)
|BTG Resistance Levels||BTG Support Levels|
|Resistance Level 1||$20.64||Support Level 1||$16.07|
|Resistance Level 2||$23.06||Support Level 2||$13.92|
|Resistance Level 3||$25.21||Support Level 3||$11.50|
BTG has recorded a upsurge, gaining 8.53% in last 24 hours. The current value of Bitcoin Gold is hovering at $13.76 with the trading volume of $38,310,731.00 USD in the same timeframe. The overall marketcap for BTG is $240,912,544.00 USD while the coin price changes 15.19% over the week.
BTG price analysis for 10 June 2023 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Bitcoin Gold.
|Simple Moving Average (10)||18.82||Sell|
|Exponential Moving Average (10)||18.71||Sell|
|Simple Moving Average (20)||19.59||Sell|
|Exponential Moving Average (20)||19.46||Sell|
|Simple Moving Average (50)||21.49||Sell|
|Exponential Moving Average (50)||21.36||Sell|
The coin is going down as it break below two crucial support levels of $16.07 and $13.92. The market is not suitable for bulls and bears might take BTG towards the next support at $11.50. The BTG/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market. While BTG’s Williams %R indicator is at -71.166 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. RSI implying oversold phase while trading at 28 and is trying to break out of the bearish zone while highlighting massive bearish strength.
As of now, Bitcoin Gold is doing well and is attempting to break out of the reddish zone. In order to invest in the digital currency, crypto investors want to see the BTG move into the positive zone. As far as we can tell, Bitcoin Gold is on its way up. In 2022 and beyond, the Bitcoin Gold price has a significant likelihood of rising. It's important that you do your own research before making a decision on whether or not this is a smart investment for you.