Bitcoin SV Price May Continue Bullish Movement to $259 Resistance Level   
Login

Bitcoin SV Price May Continue Bullish Movement to $259 Resistance Level   

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:
Bitcoin SV Price Analysis – April 05

An increase in the buyers’ pressure will further increase the price to $198 and $185 resistance levels. In case the buyers’ pressure could not break up $217 level, the price may face the support levels at $217, $198 and $185.

BSV/USD Market
Key Levels:

Resistance levels: $233, $259, $311

Support levels: $217, $198, $185

BSV/USD Long-term Trend: Bullish

On the daily chart, BSV/USD market is Bullish. On April 01, the buyers gained more pressure and pushed the crypto out of the ranging mode. The buyers aided the price increase to the resistance level of $259 after it broken up the $233 price level. The sellers reacted against the increase with the formation of long and big daily bearish candle. The support level of $217 was retested. At moment, it seems the buyers are regaining their momentum.

BSVUSD Daily chart, April 05

Bitcoin SV is trading at the moment around $233 price level. It is trading above the 9 periods EMA and 21 periods EMA while the two EMAs are well separated which indicate volatility in the Bitcoin SV market. An increase in the buyers’ pressure will further increase the price to $198 and $185 resistance levels. In case the buyers’ pressure could not break up $217 level, the price may face the support levels at $217, $198 and $185.

BSV/USD Medium-term Trend: Bullish

Bitcoin SV is bullish on the medium-term outlook. The coin suddenly increased to test the resistance level at $259 on April 02. The bulls had no momentum to sustain the breakout, bears gain more pressure and push down the coin to retest the $217 level. The bulls defend the just mentioned level and the price resume bullish movement.

BSVUSD 4-hour chart, April 05

The two EMAs are close to each other and the price is trading above the EMAs which connotes a bullish movement. The relative strength index is displaying a bearish signal above the 40 levels which indicates sell signal which may be a pullback.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News