Bitcoin SV Price Is Consolidating as Bull and Bears Lose Momentum

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Bitcoin SV Price Analysis – October 25

When there is an upward movement to break up the $193 resistance level, price may increase to $233 and $266. Alternatively, a breakdown of $148 level may decrease the price to $112 and $73 levels.

Key Levels:

Resistance levels: $193, $233, $266

Support levels: $148, $112, $73

BSV/USD Long-term Trend: Ranging

On the daily chart, Bitcoin SV is ranging. It is more than two weeks that Bitcoin SV has been dangling within the price range. There is no significant movement in the BSVUSD market. The bulls was dominating market till October 07. The bears interrupted the bulls at the short distance to $193 significant level. Both bears and bulls loses their momentum and the price started consolidation movement.

Bitcoin SV is trading around the two dynamic support levels; it is trading between the 9 periods EMA and the 21 periods EMA on the daily chart, also the fast moving EMA is joining the slow moving EMA as an indication of low volatility. When there is an upward movement to break up the $193 resistance level, price may increase to $233 and $266. Alternatively, a breakdown of $148 level may decrease the price to $112 and $73 levels.

BSV/USD Medium-term Trend: Ranging

Bitcoin SV is on the ranging movement on the 4 hour chart. The Crypto commences ranging movement since October 07 when the bulls pushed the price to reach the high of $193. Bulls lose momentum and could not break up the just mentioned level. Likewise, bears’ pressure is low and could not push down the price. The price is consolidating at the moment within $193 and $148 levels.

The two EMAs are interlocked to each other and the price is trading over 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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