Bitcoin SV Price Analysis – August 23
When the bulls increase their momentum, the price 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. In case the bears oppose the bulls at $185 level, price may reduce to the support level of $148 and it may continue 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. The Bitcoin SV still remains under the command of the double bottom chart pattern formed at the support level of $101. The bulls have been dominating the market. Bitcoin SV is steadily increasing. Last week, the resistance level of $148 was penetrated and the price increases towards the $185 price level. There was a pullback after the breakup of the $148 level before it continues the bullish movement.
Bitcoin SV retain its trading above the 9 periods EMA and 21 periods EMA on the daily chart. The coin may continue increasing towards north. When the bulls increase their momentum, the price 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. In case the bears oppose the bulls at $185 level, price may reduce to the support level of $148 and it may continue to the support level of $101 and $73. The Relative Strength Index (14) is at 60 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 maintain their status on 4-hour chart. The coin is increasing steadily on the daily chart when the sellers lose their 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 55 levels displaying bullish signal.
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