RATE Group | BTG/USD ignores widespread retreat to post gains over 2% on Thursday
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BTG/USD ignores widespread retreat to post gains over 2% on Thursday

10 Oct BTG/USD ignores widespread retreat to post gains over 2% on Thursday

Posted at 07:56h in Bitcoin News by

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  • Bitcoin Gold separates from other coins to push for recovery towards $10 (supply zone).
  • The bullish action is happing after a two-week consolidation phase between $7 – $8.

Bitcoin Gold remains the bull among a sloth of bears following a bearish wave that is sending most cryptocurrencies back to retest key levels. Bitcoin (BTC), for instance, failed to sustain gains above $8,700 and retreated to test $8,500 support. The majority of cryptocurrencies are also posting losses between 0.01% and 2% on the day.

On the other hand, BTG/USD is defying the general downtrend with a 2.33% increase in value. The enthusiastic move comes after roughly two weeks of consolidation between $7and $8. The initial break above the Simple Moving Averages (SMAs) gave the price a kick towards $10 (supply zone).

Read also: Bitcoin technical analysis: BTC/USD not bothered by BTC ETF’s rejection, all eyes on $9,000

Bitcoin Gold has tested the intermediate resistance at $9.00 but is…

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