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- 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(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
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.
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.
