Bitcoin SV(BSV) Price Analysis: Good Things Come With Time

  • Bitcoin SV coin gave a 53% upside on January 09, 2021
  • Bitcoin SV coin prices broke multiple resistance within a day till it reached $325 from $180.00
Bitcoin SV
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Bitcoin SV(BSV) price after surging 53% returned to the lower levels post the breakout. The coin made a sideways triangle from the past nine months, which finally broke on January 18, 2021. The market cap and 24 hour volumes are $3,658,928,624 and $326,276,007 respectively. 

Bitcoin SV(BSV) Coin Prices: A Fugitive Breakout 

BSV
www.tradingview.com

After giving a drastic movement, Bitcoin SV(BSV) prices came back to the support levels of $200. Currently, the coin is making doji candles with shallow volumes while testing the support levels. A fall below this level can take Bitcoin SV prices towards the support of $160. 

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The VWAP is $196.303, rendering support for the coin. 

The Bollinger Bands expanded and contracted significantly within 12 days. The expansion confirmed the coin and brought considerable buying pressure; leading to breaking multiple resistances. The base and upper band are currently providing resistance at $205 and $225 while the lower Bollinger Band is providing supports at $185. 

The stochastic is hovering the oversold territory and is further charging lower indicated extreme weakness in the trend. 

The MACD(8,21,5) has made a bullish crossover which can make the coin consolidate above the support or push down towards $160. 

The ADX seems to decline from 36 to 33 levels, suggesting the trend’s strength is diminishing. The DI+ and DI- are at 19 and 21. A crossover can trigger a bear run while a bounce-back of DI+ can push the coin along the support. 

Conclusion

Bitcoin SV(BSV) has seen an extreme volatility level in the past ten days, surging for 53% and then returning the previous levels causing indecisiveness amongst the traders. 

Support: $190 and $170

Resistance: $200-$205 and $225.

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Kartik Dhankanihttp://thecoinrepublic.com
Kartik Dhankani is a BAF Student based out of India and a stock market trader and Financial Analyst. He seeks to diversify his reach to different investment alternatives and analyse them using his knowledge for fundamental and technical analysis

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