Bitcoin SV Price Analysis – March 07
In case the sellers increase their pressure, it may break down the support level of $83 in which the price may decrease to $66 and $50 levels. Should the bulls defend support level of $66, price may bounce up towards the resistance level of $105
Key Levels:
Resistance levels: $83, $105, $123
Support levels: $66, $50, $25
BSV/USD Long-term Trend: Bearish
Bitcoin SV is bearish on the daily chart. Last week, the bulls’ pressure and the bears’ pressure was weak and the price was consolidating around $83 support level. Sellers gained more momentum and the support level of $83 was broken downside. The price is declining towards the support level of $66. At the moment, sellers are prevailing on the Bitcoin SV market and the support level of $66 may be reached.
BSV/USD Medium-term Trend: Bearish
Bitcoin SV is on the bearish movement. The coin was on the ranging movement last week on the 4-hour chart. The bears are gaining more pressure and the price is declining towards the support level of $66. In case bears exert more pressure, the price may go down below the just mentioned level.
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