Bitcoin SV Price (BSVUSD): Is There Enough Bearish Pressure to Break Down $148 Level?

Updated:

Bitcoin SV Price Analysis – November 22

The breakout at the resistance level of $194 will increase the price to $233 and $266 levels. On the same way, the breakout at $148 level will decrease the price to $112 and $73 price levels.

Key Levels:

Resistance levels: $194, $233, $266

Support levels: $148, $112, $73

BSV/USD Long-term Trend: Ranging

On the daily chart, Bitcoin SV is on the ranging movement. The bears keep on defending the resistance level of $194. This is noticed with the formation of strong bearish candle at the $194 level. The support level of $148 has been tested in the Bitcoin SV market with the aid of the bears’ pressure on November 18. The price pulled back to retest the dynamic resistance levels. At the moment the coin is range-bound within $194 resistance level and $148 support level.

BSVUSD daily chart, November 22

Bitcoin SV is trading below the two dynamic resistance levels; it is trading below the 9 periods EMA and the 21 periods EMA on the daily chart, also the fast moving EMA is crossing the slow moving EMA downside as an indication of an increase in the bearish momentum. The breakout at the resistance level of $194 will increase the price to $233 and $266 levels. On the same way, the breakout at $148 level will decrease the price to $112 and $73 price levels.

BSV/USD Medium-term Trend: Ranging

Bitcoin SV is on the ranging movement on the 4 hour chart. The resistance level of $194 has been holding the price since October 08. The Bulls’ momentum became weak immediately it tested the resistance level of $194. It could not break up the just mentioned level. The Crypto pulled back, tested the support level of $148 but unable to break it downside. The price is moving within just mentioned range.

Bitcoin SV 4-hour chart, November 22

The price is trading around the 9 periods EMA and 21 periods EMA and the former is crossing the later as a sign of ranging market. The relative strength index period 14 is at 40 levels displaying bearish signal.

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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.