Bitcoin SV (BSV) Faces Stiff Resistance, Battles $320 Price Level
Login

Bitcoin SV (BSV) Faces Stiff Resistance, Battles $320 Price Level

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:
Key Resistance Levels: $140, $160, $180
Key Support Levels: $80, $60, $40

BSV/USD Long-term Trend: Bullish
Bitcoin SV is in a bull market. The bulls made a remarkable move as the price reached a high of $440 on January 14. The price corrected itself as it retraced to a low of $240. The coin is still in the bullish trend zone. The bulls have to pick up momentum to retest the $440 resistance. A successful breakout will propel BSV to a high of $600. In retrospect, BSV has been fluctuating between the levels of $80 and $160. On January 10, the price broke the upper price range and we have the price rally above $440.

BSV/USD - Daily Chart

Daily Chart Indicators Reading:
BSV is below 60% range of the daily stochastic indicating that the coin is in bearish momentum. The moving averages have a bullish crossover as the 21-day SMA crosses over the 50-day SMA.

BSV/USD Medium-term bias: Bullish
On the 4- hour chart, the coin reached a high of $440 but buying power dries up at a higher price level. The bulls could not sustain the upward move. The coin dropped to the low of $280 and retested the $320 before dropping again. The resistance at $320 was tested on three occasions as the coin drops to the low of $240.

BSV/USD - 4 Hour Chart

4-hour Chart Indicators Reading
The Relative Strength Index period 14 level 40 indicates that the coin is in the range-bound zone. At the moment, the coin is fluctuating between $240 and $320. The bulls defended $240 to avoid further depreciation, while the upward move has been restricted at $320.

General Outlook for Bitcoin SV (BSV)
Bitcoin SV has the prospect of rising because it is in the bullish trend zone. The upward moves have been scuttled at the $320 resistance. The recent rally was short-lived because of a lack of buying power at a higher price level. Presently, BSV is ranging as the bulls and bears are undecided about their next .move.

BSV Trade Signal
Instrument: BSVUSD
Order: Buy
Entry price: $260
Stop: $200
Target: $440

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News