Bitcoin SV Trend: Where Is Your Price Going?

The BSV price has already increased by more than 30% in the past 2 weeks. If you want to know where Bitcoin SV is going, read this post.

Bitcoin Satoshi Vision (BSV), Bitcoin's second fork, continues to push ahead with its goal of conquering the market. Today we see it at a price of USD 240 per unit according to our crypto online tool. Despite the fact that Bitcoin SV was a currency that was surrounded by many negative controversies, its historical trend continues to pull it up.

Next, we'll technically analyze this cryptocurrency to predict its possible near future.

Bitcoin SV long-term trend

As I commented at the beginning of this post, although it has occasionally fallen, BSV continues to maintain a succession of ever higher highs that are characteristic of an upward trend.

With the fall of the crypto market last March, Bitcoin SV's price fell towards an important support zone near USD 148.

This price level was immediately rejected, which showed the bears' impossibility of pulling the current further down.

Today we see bulls in full control who are able to pack bearish intentions quickly. While the bears took more than two months to lower the price to $ 148, it took buyers less than a month to get rid of all of these losses and even make profits.

At the moment, this fall in March seems to be the reason for the setback before looking for a new historical maximum if we observe the upward trend in the long term.

Medium-term trend

On the weekly Bitcoin SV price chart, we look at the EMAs at 8 and the SMA at 18, which are crossed. I use these tools to identify the medium-term trend.

With the strong upward movement of the crypto market, BSV was influenced in a very positive way and went through resistance after resistance.

After the breakdown of resistance at USD 208, the upward trend was reaffirmed and the terrain cleared to a minimum of USD 295 if we only look at the weekly chart.

We are still experiencing a dynamic in the process, so it is possible that there will be a decline soon before the previous trend continues.

Short-term trend

In the daily timeframe, we can observe the strong buying pressure of the past few days, which makes it more than clear that Bitcoin SV shows a short-term upward trend.

The 200-day SMA was recently trading higher and, after serving as dynamic support, started another dynamic that is still in progress.

The bottom is currently clear from the daily chart to close to $ 249.3. There you could start a pullback before the bullish continuation. If this limit is exceeded, the panorama is free up to USD 295 – USD 300.

The 8-day EMA and 18-day SMA moving averages follow the short-term uptrend and can act as dynamic support for the pullback, which I think will start soon.



Source link

Be the first to comment

Leave a Reply

Your email address will not be published.


*