The breaking down of $92 price level may drop the Bitcoin SV price at the previous low while the bullish momentum will ride the price to $100 – $107.
Key Highlights:
- The bulls are in control of the Bitcoin SV market on short-term;
- the bullish momentum may continue;
- break out is imminent.
BSV/USD Price Medium-term Trend: Bullish
Resistance levels: $92, $100, $107
Support levels: $85, $80, $73
The Stochastic Oscillator period 14 is above 60 levels with the signal line twisted to each other horizontally placed without direction confirm that consolidation is ongoing. BSV price is trading on the two EMAs around $92 price level. The breaking down of $92 price level may drop the BSV price at the previous low while the bullish momentum will ride the price to $100 – $107.
BSV/USD Price Short-term Trend: Bullish
The 21-day EMA has moved above the 50-day EMA with the BSV trading above it connotes increased bulls’ momentum on the BSV market. The Stochastic Oscillator period 14 is at 40 levels with the signal lines crossing upside which connotes continuation of the bullish trend on the short-term outlook. However, patience is required by the traders to place profitable trades in this scenario.
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