Bitcoin SV Price Analysis – August 16
When bullish momentum increases, it may break up the barrier at $185 level and the key resistance level at $217 may be tested, further increase may push it to $233. A bearish opposition at $185 level may reduce the price to the support level of $148 and the price may be reduced to the support level of $101 and $73.
Key Levels:
Resistance levels: $185, $217, $233
Support levels: $148, $101, $73
BSV/USD Long-term Trend: Bullish
Bitcoin SV is bullish on the daily chart. After the formation of double bottom chart pattern formed at the support level of $101, the bulls dominate the market. Bitcoin SV is increasing steadily. The resistance level of $148 has been penetrated and it is increasing towards the $185 price level at the moment. The bears interrupted the price increase after the breakup of the $148 level; that is, the price carried out retracement towards the dynamic support level.
On the daily chart, Bitcoin SV is trading above the 9 periods EMA and 21 periods EMA. There is tendency for the price to continue an increase towards north. When bullish momentum increases, it may break up the barrier at $185 level and the key resistance level at $217 may be tested, further increase may push it to $233. A bearish opposition at $185 level may reduce the price to the support level of $148 and the price may be reduced to the support level of $101 and $73. The Relative Strength Index (14) is at 70 levels with the signal line pointing up to indicate buy signal.
BSV/USD Medium-term Trend: Bullish
Bitcoin SV is bullish on the 4 hour chart. The buyers started dominating the market two weeks ago. The coin increases steadily on the daily chart as the sellers lose the momentum at the support level of $101. The price has penetrated $148 resistance level. Bitcoin SV may continue on the bullish trend.
The trading above the 9 periods EMA and 21 periods EMA indicate that bulls’ pressure is increasing. The relative strength period 14 is at 70 levels displaying bullish signal.
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