Bitcoin SV Price: Can It Be a Pullback or Bearish Reversal?

18 October 2021 | Updated: 18 October 2021

Bitcoin SV Price Analysis – October 18

When the bears increase their momentum, it may break down the support level at $148 level and decrease to $112 and $73 price level. Inability to break down the $148 price level may lead to an increase in price to the resistance levels at 4193, $233 and $266.

Key Levels:

Resistance levels: $193, $233, $266

Support levels: $148, $112, $73

BSV/USD Long-term Trend: Bullish

On the daily chart, Bitcoin SV is bullish. The bulls started to dominate the market on September 29. The bullish momentum increased and broke up the former resistance level of $148. It was extending towards the resistance level of $193 last week. The price is currently pulling back towards below the dynamic support level.

Bitcoin SV, daily chart october 18

Bitcoin SV is penetrating the dynamic support levels; it is trading below the 9 periods EMA and it is trying to penetrate 21 periods EMA on the daily chart, also the fast moving EMA remains above the slow moving EMA as a bullish movement indication. When the bears increase their momentum, it may break down the support level at $148 level and decrease to $112 and $73 price level. Inability to break down the $148 price level may lead to an increase in price to the resistance levels at 4193, $233 and $266.

BSV/USD Medium-term Trend: Bearish

Bitcoin SV is bearish on the 4 hour chart. The Crypto was bullish last week and the price was increasing slowly towards the resistance level of $193. It has not reach the mark before it was interrupted by the bears. The price decline with slow progress but the sellers lose momentum along the way and it started to consolidate.

Bitcoin SV 4-hour chart, October 18

The two EMAs are interlocked to each other and the price is trading around the 9 periods EMA and 21 periods EMA as a sign of consolidating market. The relative strength index period 14 is at 50 levels displaying no specific signal direction.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.