Bitcoin Gold May Continue Bearish Momentum; Should You Hold BTG?

Bitcoin Gold (BTG) has dropped from its highs of $162 over the year and is currently trading at $24. The bears have successfully pushed the token to its lows crossing the downtrend line and rejecting the uptrend line. The coin was not able to sustain the $24 mark. BTG shows the constant formation of lower peaks and bearish candles.

The weekly chart shows that BTG has moved below the Support Line, and an upcoming downtrend pattern can be expected till the price reaches the lower low of $12. The Bitcoin Gold token even rejected the uptrend line stretching over since January as the prices kept declining.

The BTG price prediction can be made by splitting the time into sub-periods, i.e., the 4-hour time frame chart. There was a hidden bullish divergence between the price and the RSI indicator; however, the price couldn’t rise even though the volume favored bulls.

BTG Price ChartOn the daily chart,…

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