Bitcoin SV Price Reduced by -0.47% Yesterday, Further Reduction Expected 

Bitcoin SV Price Reduced by -0.47% Yesterday, Further Reduction Expected 

Bitcoin SV Price Analysis – August 17

In case the bears were able to push the price and close below the support level at $217, then, the support level at $179 and $153 will be the target. Inability to close below the mentioned support level may allow the buyers to push the coin towards $259, $311 and $364 resistance levels. 

BSV/USD Market
Key Levels:

Resistance levels: $259, $311, $364

Support levels: $217, $179, $153

BSV/USD Long-term Trend: Bullish

On the long-term outlook, Bitcoin SV is bullish. The coin broke out of the ascending channel formed last week. The support level of $217 was penetrated with the seller’s aim to continue selling the coin. At the support level of $197, the bearish movement was rejected and the price is increasing towards the resistance at $259 for a second-time retest. 

BSV Daily chart, August 17

The price is currently sat on the support level at $217 with a daily bearish candle which indicates that the bears open today’s market. Moreover, the Relative Strength Index is bending down at 50 levels connotes further decrease in the BSV price. In case the bears were able to push the price and close below the support level at $217, then, the support level at $179 and $153 will be the target. Inability to close below the mentioned support level may allow the buyers to push the coin towards $259, $311 and $364 resistance levels. 

BSV/USD Medium-term Trend: Bearish

The sellers have not got enough momentum to push the coin down far beyond the demand level at $198. Bitcoin SV pulled back to retest the broken level at $217 price level. The price is currently consolidating at $217 price level and it is trading in between the 9 periods EMA and 21 periods EMA as a sign of consolidation. 

BSV 4-hour chart, August 17

However, the relative strength index period 14 is pointing upside at 50 levels indicates a buy signal. The coin may breakdown the $217 level and targets the $198 price level.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 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
Share with other traders!