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.
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.
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.
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