Bitcoin SV Price: Bulls May Interrupt Bears at $105 Level

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Annual Forecast for Bitcoin SV (2022)

In case the support level of $105 holds, the price may increase towards the resistance level at $113, $148 and $171. Further increase in the bears’ pressure will decrease the price to the support level of $73 which may expose the price to $73 and $41 price level.

Key Levels:

Resistance levels: $113, $148, $171

Support levels: $105, $73, $41

BSV/USD Long-term Trend: Bearish

On the weekly chart, Bitcoin SV is bearish. At the beginning of last year, the crypto was bullish. The bulls dominated the market and the price increased to the resistance level of $381. The just mentioned level holds and a weekly bearish engulfing candles formed. The price declined to test the support level of $148 on May last year. There was a further increase in the sellers’ pressure and the $148 level was penetrated to test the support level of $113. The coin started a ranging trend within the $194 and $113 levels. The price may decrease further to $73 in case the bears exert more pressure.

The crypto continue trading below the 9 periods EMA and the 21 periods EMA which indicate bearish momentum while the former remains below the later. In case the support level of $105 holds, the price may increase towards the resistance level at $113, $148 and $171. Further increase in the bears’ pressure will decrease the price to the support level of $73 which may expose the price to $73 and $41 price level.

BSV/USD Medium-term Trend: Bearish

Bitcoin SV is on the bearish movement on the daily chart outlook. The price action on the daily chart formed a double chart pattern in May. The bears dominated the Bitcoin SV market since then. The momentum of the bears was increasing and the price decline to break down the support level at $148 level. The price is decreasing towards the support level of $73.

The price is ranging around the 9 periods EMA and 21 periods EMA which indicate that bulls are trying to interrupt the bears. The relative strength index period 14 is at 40 levels displaying bearish direction.

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