BTG has jumped a couple of times before, but those were rebounds from oversold conditions. The question now is, is third time the charm?
I admit I don't know, but there's a long-term support here that makes the current point a good long entry. Unless a major crash takes place in the coming days, I believe BTG will go up. If it develops its first bullish run, my target would be around $600.
BTG has a lot of sell pressure I think b/c many are BTC purists and want to sell whenever BTG gets a little high. Nevertheless, if we compare the last two times BTG reached $400, it's clear that selling is not as dramatic the second time. Maybe this suggests that those who wanted to sell the most have sold.
Comment
⋅
Unfortunately, BTG has fallen out of the channel. It's unclear when it'll go up again.
Comment
⋅
Nevertheless, it's oversold so even though it may not go up much it's better to wait for some form of recovery unless you see a great opportunity now.