Bitcoin SV Price Is Warming Up for a Breakout at $171 or $153 Level

Bitcoin SV Price Analysis – September 17

Increasing in the buyers’ momentum will break up the resistance level at $171, which may increase to $185 and $198 resistance level. In case the buyers fail to break up the resistance level of $171, the sellers may push the price to break down the support level at $153 and this will expose the price to $134 and $130 price level.

BSV/USD Market

Key Levels:

Resistance levels: $171, $185, $198
Support levels: $153, $134, $130

BSV/USD Long-term Trend: Bearish

Bitcoin SV market is experiencing little or no significant movement as the sellers’ and the buyers’ momentum seems to be at equilibrium. The price found support at the $153 support level on September 03 with strong and massive bearish candles that emerges. The support level was defended by the buyers and the bearish trend was interrupted, the price pulled back to retest the broken level at $171 price level. The price is gradually consolidating around the dynamic resistance level of 9 periods EMA.

The two EMAs are descending above the price, in other words, the crypto is trading below the 9 periods EMA and 21 periods EMA. Increasing in the buyers’ momentum will break up the resistance level at $171, which may increase to $185 and $198 resistance level. In case the buyers fail to break up the resistance level of $171, the sellers may push the price to break down the support level at $153 and this will expose the price to $134 and $130 price level.

BSV/USD Medium-term Trend: Ranging

The declination of BSVUSD price to break down the support level of $153 was interrupted by the buyers and the price was ranging towards the $171 resistance level, fake breakout was experienced. The price returned into the ranging zone within the $171 resistance level and $153 support level.

BSV is trading around and over the 9 periods EMA and 21 periods EMA in which the two EMAs are interlocked to each other which connotes that consolidation is in progress in the Bitcoin SV market. The relative strength index period 14 is not displaying any specific direction. Traders should wait for the breakout or place pending order.