The bullish trend continues as long as the Bulls maintain or increase their pressure and Bitcoin SV may have its resistance at $85 price level. In case the support level does not hold, BSV will find its low at $54 price level.
Key Highlights:
- The confluence level was broken by the bulls on the daily chart;
- the bulls may take over the Bitcoin SV market;
- the downtrend may continue in case the $68 support level break.
BSV/USD Price Long-term Trend: Bullish
Resistance levels: $85, $100, $114
Support levels: $68, $54, $41
The coin is now exposed to the resistance level of $85. It is currently carrying out retest.
The BSV is already placed in between the two EMAs, in which the 50-day EMA is above the 21-day EMA. The Stochastic Oscillator period 14 is at 60 levels with the signal lines pointing up to indicate that the bullish momentum may increase and it is also a buy signal.
The bullish trend continues as long as the Bulls maintain or increase their pressure and the coin may have its resistance at $85 price level. In case the support level does not hold, the coin will find its low at $54 price level.
BSV/USD Price Medium-term Trend: Bullish
The Bitcoin SV is on the $68 support level, in case the bearish candle break down the level and close below it, the coin will decline further towards $54 price level, if not, then the crypto will bounce and rally to the north. Meanwhile, BSV is in between the 21-day EMA and the 50-day EMA and the Stochastic Oscillator is at 20 levels (oversold level) gradually bending up which indicates buy signal.
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