BTG prices exit the falling channel pattern with a bullish reversal from the $22.2 mark teasing a jump to the $30 psychological mark. The BTG prices bounced back from the $22.2 support level to breach the long-coming resistance trendline of a falling channel pattern to challenge the $26.5 resistance level. Currently, the higher price rejection in the daily candle lowers the possibility of a $26.5 breakout and teases a retest of the channel breakout. So, will the uptrend sustain to exceed the overhead resistance or lead to a consolidation phase? Key Points: The BTG price action shows a bullish breakout of a falling channel. The uptrend may reach the psychological mark of $30 if the buying pressure sustains. The intraday trading volume in Bitcoin Gold is $59.76 million. Source – TradingView BTG Technical Analysis After the recent bearish turnaround from the $26.5 resistance level, the BTG prices took support at the $22.2 mark. Then, with lower price rejection and a bullish piercing candle, the buyers regained trend control at $22.2 and broke above the resistance trendline to challenge the sellers at the $26.5 mark. Over the last three days, the market value has jumped by 15%, but the higher price rejection in the daily candle questions the bullish commitment. On a side note, the increasing possibility of a consolidation range forming between $22.2 and $26.5 limit the case of a bullish breakout. However, if the BTG prices exceed ...
