Bitcoin SV Price May Decline to $198 Level
Login

Bitcoin SV Price May Decline to $198 Level

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


Bitcoin SV Price Analysis – May 17

An increase in the bears’ pressure may push down the price to penetrate the $233 level, there will be a price decrease in price towards the support level of $217 which may extend to $198 level. In case the bears’ momentum is interrupted by the bulls at $233, the price may face the resistance levels at $311, $364 and $439.

BSV/USD Market

Key Levels:

Resistance levels: $311, $364, $439

Support levels: $233, $217, $198

BSV/USD Long-term Trend: Bearish

Bitcoin SV is Bearish on the daily chart. The bulls were controlling the Bicoin SV market last week. On May 12, the bears took over the market, this is established with the formation of big bearish candle that engulfs the previous daily bullish candle. The price decreases and the support level of $233 was tested. Further price decrease envisaged as it opens the market today with a bearish candle.

Bitcoin SV Daily chart, May 16

The 9 periods EMA is trying to cross the 21 periods EMA downside while Bitcoin SV is trading below the two EMAs as a sign of bearish movement. An increase in the bears’ pressure may push down the price to penetrate the $233 level, there will be a price decrease in price towards the support level of $217 which may extend to $198 level. In case the bears’ momentum is interrupted by the bulls at $233, the price may face the resistance levels at $311, $364 and $439.

BSV/USD Medium-term Trend: Bearish

Bitcoin SV is bearish on the medium-term outlook. The bearish momentum increases in the BSV market yesterday. The price was initially ranging within the $381 and $311 price level for more than two Days. The bears gained more pressure and a big bearish candle formed that breaks down the support level of $311 and tested the support level of $266.

Bitcoin Sv 4-hour chart, May 17

The price is decreasing and it is trading below the 9 periods EMA and 21 periods EMA which connotes a bearish movement. The relative strength index is displaying a bearish signal at the 30 levels which indicates further decrease in price.

You can purchase crypto coins here: Buy coins

  • 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