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- BSV trading on a bullish note.
- Bitcoin SV trading near the resistance zone around $230-$240, which can be considered the supply zone
- BSV/BTC trading below all the major EMA 20,100 and 200, standing at 0.004681 BTC with an intraday drop of -0.34%
Bitcoin SV trading on the bullish note.
It has built up a rounding bottom pattern while trading above the major moving averages of 20,50,100 and 200-Day. However, BSV is trading sideways for many weeks, but this time we can expect a bullish moment if it successfully started to trade above $240.
The levels expected after this breakout are $260 and $280, support on lower levels is placed around $200 and $180. Resistance on the higher side is situated at $285 and $320.
Presently BSV is situated at the 19th rank with the total market capitalization standing at $4,165,309,753 with an intraday increment of +2.93%.
BSV over the daily chart is trading on the bullish note, as built up a higher high and lower bottom sequence. Presently it is trading at $226 with intraday gain of $3.93%, volume has dropped over -19.59% standing at $1,368,629,338.
Relative Strength Index & Moving Average Convergence Divergence
The major hurdle on the higher side is placed at $240. Meanwhile, support on the daily chart is situated at $210. While BSV is trading between the upper band and the basis line indicates the continuation of the uptrend.
Relative Strength Index (Bullish) indicates a bullish momentum while trading at 64.73. However, it is currently heading towards the overbought zone after retracement from higher levels, which indicates the strength of bulls.
Moving Average Convergence Divergence (Bullish) currently indicates a bullish trend on the daily chart as it is about to give a positive crossover with the significance of the buyer’s line (green) over the seller’s signal line (red), with no sign of weakness.
Support levels: $200 and $180
Resistance levels: $285 and $320.
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.
