The Bitcoin Gold (BTG) price trend shines a bullish hope after finding support at the 50-day EMA, maintaining an overall downtrend. With multiple long-tail daily candles, the improving underlying bullish sentiments tease a potential uptrend within the falling channel. Should you consider going bullish as the recovery trend gains momentum?
<h3>Key Points:</h3>
<ul>
 	<li>The Bitcoin Gold (BTG) market price shows a bullish reversal from the 50-day SMA.</li>
 	<li>The 50 and 200-day SMA teases a golden crossover in the daily chart.</li>
 	<li>With a market cap of $451 million, the intraday trading volume of Bitcoin Gold has increased by 37% to reach $28.87 million.</li>
</ul>
<img src="https://s3.tradingview.com/snapshots/h/H7Ztf1fP.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/H7Ztf1fP/">Tradingview</a>
<h2>BTG Technical Analysis</h2>
The <a href="https://www.cryptoknowmics.com/news/bitcoin-gold-price-prediction-2022-2026-will-the-price-of-btg-hit-46-91-by-the-end-of-2022/" target="_blank" rel="noopener">Bitcoin Gold</a> (BTG) price trend shows a bearish reversal from the $35 resistance level after the rounding bottom breakout. The downtrend inchoates a falling channel and accounts for a 35% drop within three weeks to test the 50-day EMA.

The price trend shows a bullish reversal from the support trendline of the falling channel with the help of a 50-day EMA. The multiple low price rejection near the supporting EMA increases the uptrend possibility to the overhead resistance trendline.

BTG trades at $26 with a 3.1% jump in the last 24 hours, teasing a potential bullish engulfing candle formation. However, the bullish trend may find resistance at $26.55 and the 200-day EMA before reaching the trendline.

If the uptrend breaks out of the falling channel, the unleashed bullish momentum can drive the market price higher above the $30 mark. Nevertheless, a bearish continuation within the channel may break the 50-day EMA to test the $22 support level.
<h2>Technical Indicators</h2>
The RSI indicator displays a downtrend under the influence of a resistance trend line moving along with the 14-day average line. However, the recent reversal within the nearly oversold zone may challenge the resistance confluence shortly.

The fast and slow lines in the MACD indicator project a chance of a bullish turnaround teasing a crossover event. Hence, the technical indicators maintain a bullish bias for the BTG prices.

Resistance Levels: $26.55 and $30

Support Levels: $22 and $20

BTG Prices Tease Channel Breakout After Reversing From 50-day EMA

The BTG technical analysis displays a bull cycle gaining momentum in the falling channel pattern teasing a price jump to the $28 mark.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

BTG Prices Tease Channel Breakout After Reversing From 50-day EMA

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