Bitcoin SV Analysis: BSV Building up Bullish Momentum Amid Sustainability Above Major Moving Averages

Bitcoin SV is trading on a bullish note
  • BSV is trading on the bullish note after slipping from its 90-days high of $325, However it is trying to trade above 20,50,100 and 200-DMA 
  • The pair of BSV/BTC is trading at 0.005044 BTC with minor drop of -0.70% 

Bitcoin SV is trading on a bullish note as it gains momentum after taking support of $155 and currently trading at the price level of $181.42 with minor intraday gain of 0.61%. The resistance on the monthly chart is placed at $215 and $285, likewise the support on lower levels is situated $160 and $150. Presently BSV is trying to sustain above 20,50,100 and 200-DMA, however, the coin is in consolidation phase. Meanwhile the volume is not much supportive for a positive breakout.   

BSV on a lower time frame is trading in an uptrend. However the indicators are still not favour of a bullish momentum and likely indicating an consolidation phase. BSV is trading at the level of $181.51 with intraday volume drop of -20.65% standing at $674,040,923, meanwhile the total market capitalization stands at $3,382,229,729 which increased over +0.69%. The support on the daily chart is placed at $178 and $172, while resistance is placed at $185 and $192. 

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Relative Strength Index (Neutral) indicates a neutral momentum while trading at 55.40. However, it is currently trading flat with no clear momentum.   

Moving Average Convergence Divergence (Neutral) currently indicates a Neutral trend on the daily chart as both the buying signal line (green) and sellers line(red) is over-lapping each other indicating no clear momentum. 

Support levels: $160 and $150 

Resistance levels: $215 and $285

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Pratik Chadhokarhttp://www.thecoinrepublic.com
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

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