Bitcoin SV (BSV) Price: Bears Are Exerting More Pressure, Bearish Breakout Envisaged at $147
Login

Bitcoin SV (BSV) Price: Bears Are Exerting More Pressure, Bearish Breakout Envisaged at $147

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

Azeez Mustapha

Updated:


Bitcoin SV Price Analysis – September 20

The breakdown of the support at $147 level by the bears may reduce the price to $110 and $73 price level. Inability to break down the $147 price level may result to further increase in price towards the resistance levels of $193, $233 and $266.

Key Levels:

Resistance levels: $193, $233, $266

Support levels: $147, $101, $73

BSV/USD Long-term Trend: Ranging

On the daily chart, Bitcoin SV is ranging. The crypto was under the control of the bears since September 06. The price tested the resistance level of $193, the bulls lose momentum and that is why the candle pattern called evening star formed. Followed the scenario is the formation of the strong daily bearish candle that penetrated the dynamic support level and tested the support level of $147. The bears equally lose their momentum and the price started consolidation at the level.

Bitcoin SV Daily chart, September 20

The fast moving EMA is below the slow moving EMA as a bearish movement. Bitcoin SV is trading below the 9 periods EMA and 21 periods EMA on the daily chart with low volatility as a sign of ranging movement. The breakdown of the support at $147 level by the bears may reduce the price to $110 and $73 price level. Inability to break down the $147 price level may result to further increase in price towards the resistance levels of $193, $233 and $266.  However, the Relative Strength Index (period 14) is at 40 levels with the signal line pointing down to indicate sell signal.

BSV/USD Medium-term Trend: Ranging

Bitcoin SV is on the ranging movement on the 4 hour chart. The Crypto continues a consolidation movement after last week event; the resistance level of $193 was tested by the Bitcoin SV and bounces off the level. The bears pushes the price down to the support level of $148. Both the bulls and the bears lose their momentum and this led to ranging market.

Bitcoin SV 4 hour, September 20

The two EMAs are interlocked to each other and the price is hovering over the 9 periods EMA and 21 periods EMA. The relative strength period 14 is below 40 levels displaying bearish signal.

You can purchase crypto coins here: Buy coins

  • 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