Bitcoin SV Price; Bulls are Regaining Their Momentum After Retracement 

Bitcoin SV Price; Bulls are Regaining Their Momentum After Retracement 

Bitcoin SV Price Analysis – April 13

An increase in the bulls’ momentum may push up the coin to $311 level, which may increase the price to $364 and $410 resistance level. In case the bears exert more pressure and the price close below the support level at $259, then, the price may decrease further to $233 and $217 support levels

BSV/USD Market
Key Levels:

Resistance levels: $285, $311, $364, $410

Support levels:  $259, $233, $217

BSV/USD Long-term Trend: Bullish

Bitcoin SV is Bullish on the daily chart. The buyers hold unto the Bitcoin SV market after the breakout that took place on April 01. The crypto was pushed out of the ranging mode and broke up the resistance level of $217. The buyers’ pressure increases and more bullish candles were produced, and the price breaks up the resistance level of $233 and $259. The price is pulling back to retest the broken level of $259.

BSVUSD Daily chart, April 13

An increase in the bulls’ momentum may push up the coin to $311 level, which may increase the price to $364 and $410 resistance level. In case the bears exert more pressure and the price close below the support level at $259, then, the price may decrease further to $233 and $217 support levels. However, the relative strength index period 14 is at 60 level bending down to indicate sell signal.

 BSV/USD Medium-term Trend: Bullish

Bitcoin SV is bullish on the medium-term outlook. Immediately after the suddenly increase to test the resistance level at $259 on April 02. The bulls had no momentum to sustain the breakout, bears gain more pressure and push down the coin to retest the $217 level. The bulls defend the just mentioned level and the price resume bullish movement to test the resistance level at $285.  Price retracement is ongoing towards the $259 level.

BSVUSD 4-hour chart, April 13

The two EMAs are close to each other and the price is trading above the EMAs which connotes a bullish movement. The relative strength index is displaying a bullish signal at the 50 levels which indicates buy signal.

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.