BTG perhaps on bottom

BTG is still alive! There is more volume in trading in this coin, than in other altcoins. So this is good news. And - even if it´s not 1:1 correlated to BTC the correlation is rather high - as can be seen in the graph.
If BTC remains above the actual support - as I´ve mentioned in my BTC- analysis - this means for BTG that it also will stay above the support 40$ (swing trend line).
Combining the last dips we see a small ascending trend.
Of course, in the long run BTG is still in a bearish cycle, as the majority of all crypto coins and tokens.
So it has to break the long descending trend line (dotted) before initiating a new trend.
The first aim could be 56$ (swing trend line) and then the last swing trend line at 78$.

This only will happen if BTC also climbs (and other altcoins too).
But this is no fairy tale, it is very possible.

Stop:
On the other hand, if BTG plumps down and breaks the support at 40$ it is probable that a new all time low will be seen.

Indicators:
RSI in neutral zone and above ascending trend line
ADX: trendless
EMA 50: turning from bottom to up, and BTG just on the line
volume: good, should be enough for new dynamic

交易進行:

Will it be a cup with handle?

評論:

New aim (high): 118$ ; fib retracement 78.6% and a swing trend line
new stop: 60$

交易進行:

seems like BTG is really forming the cup with handle