Bitcoin Gold aims for a unique ecosystem that is unlikely to exist in the current setup of the economy and blockchain. Today, blockchain doesn’t matter much in terms of fiat currencies without the underlying valuation, which is the very aspect of BTG that seeks to change.
Price action on this counter is strong even with low volume. While the fundamentals may not be a huge aspect of Bitcoin Gold for the times we live in, the technicals are quite strong.
bitcoin gold price analysis
Bitcoin Gold has been witnessing strong price action, low volatility and a steady upward move. Buying at current levels will help it survive the higher expected price movement.
Bitcoin Gold is trading with an overbought RSI level indicating positive buying sentiment on the daily time frame. From the low of $32 to the current level of $76, BTG has given returns of over 100% in a short span of time.
With a low probability of profit booking, we can expect BTG to trend up as per us in the current scenario BTG Price Prediction. It has strong support at the $32 level. Another strong support is the 200 DMA level at $59, which is close to the June low.
From a trend line perspective, BTG is in a good position, which can be seen as a buying opportunity.
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