Home Bitcoin News BitCoin Forex Bitcoin Gold price analysis: Tough time even at trough

Bitcoin Gold price analysis: Tough time even at trough

1 min read

  • BTG hits fresh all time low.
  • Technicals suggest, some more pain left.

Bitcoin Gold, the poor cousin of the largest cryptocurrency, Bitcoin, hits a new all time low on Saturday and still giving no signs of any improvement in the price outlook of this ‘not so shiny’ crypto gold.

BTG/USD is down more than 7 percent on day at $20.60, at the low point of the day and about 9 percent down from high of the day. A quick look at the daily and 360-minute chart gives us enough hint that the outlook is still grim for this crypto and bears are still hodling tight grip on the prices.

There is no such immediate strong support that bulls can rely on, while resistances are aplenty, strong one exists around $22-23 in the form of a descending trendline on 360-minute chart.

BTG/USD 360-minute chart:

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