Bitcoin SV Price May Bounce at  $73 Support Level

Bitcoin SV Price Analysis – January 24

On the daily chart, in case the bulls break up $113 level, the key resistance level to watch out for is $148 and a further increase may take the price to $185. A bearish breakout at the support level of $73 may push the price to the support level of $47 and $30.

Key Levels:

Resistance levels: $113, $148, $185

Support levels: $73, $47, $30

BSV/USD Long-term Trend: Bearish

Bitcoin SV is bearish on the daily chart. The crypto has been on the bearish movement for more than two weeks. The bears pushed the coin to test the support level of $113 on 06 December, it carried out retracement to $148 price level. The just mentioned level holds and the price returned towards the previous low level. The support level of $113 was tested second time on January 06. The level could not hold the price and it was penetrated. At the moment, it seems the bulls are ready to trigger the bullish trend with the formation of daily bullish candle.

The price is trading below the 9 periods EMA and 21 periods EMA on the daily chart. The price action is producing inside bar candle at the moment. On the daily chart, in case the bulls break up $113 level, the key resistance level to watch out for is $148 and a further increase may take the price to $185. A bearish breakout at the support level of $73 may push the price to the support level of $47 and $30. The Relative Strength Index (14) is at 30 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 sellers prevailed on the crypto last week and it found support at $73 level. The bears are losing pressure at the support level of $73. The price is bouncing and increasing towards the resistance level of $113.

The price is trading slightly above the 9 periods EMA and 21 periods EMA which indicate that bulls’ pressure is increasing. The relative strength period 14 is above 50 levels displaying strong bullish direction signal. You can purchase crypto coins here: Buy coins