Bitcoin SV Price Breaks Out at $147 Support Level, It May Reduce to $101 Level

 

Bitcoin SV Price Analysis – September 27

An increase in the sellers’ momentum may breakdown the support level at $101 level and reduce the price to $73 and $41 price level. Failure to break down the $101 price level may result to further increase in price towards the resistance levels of $141, $193 and $233.

Key Levels:

Resistance levels: $147, $193, $233

Support levels: $101, $73, $41

BSV/USD Long-term Trend: Bearish

On the daily chart, Bitcoin SV is bearish. The Bitcoin SV produced a chart pattern called evening star on the daily chart at the resistance level of $193. The crypto follows the direction of the bearish chart pattern. A massive daily bearish candle was produced which engulfs the previous candles. The support level of $143 was tested and broke down. It is currently declining towards the support level of $101.

 

Bitcoin SV is trading below the 9 periods EMA and 21 periods EMA on the daily chart while the fast moving EMA remains below the slow moving EMA as a bearish movement indication. An increase in the sellers’ momentum may breakdown the support level at $101 level and reduce the price to $73 and $41 price level. Failure to break down the $101 price level may result to further increase in price towards the resistance levels of $141, $193 and $233.  However, the Relative Strength Index (period 14) is below 40 levels with the signal line pointing down to indicate sell signal.

BSV/USD Medium-term Trend: Bearish

Bitcoin SV is bearish on the 4 hour chart. The Crypto broke out of consolidation movement that took place at $148 price level last week. When the resistance level of $193 was tested by the Bitcoin SV and bounces off the level. The sellers dominate the market and pushed the price down to the support level of $148. At the moment, the price is trading below the 4148 level heading towards the support level of $101.

The two EMAs are separated from each other and the price is trading below the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is at 40 levels displaying buy signal.

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