Bitcoin SV Shows Signs of Upside Momentum, Attempts to Revisit $180 High
Sep 13, 2020 at 10:54 //
News
Bitcoin SV is trading at $168 after its recent fall to the $150 low. The crypto has earlier rebounded above $150 as buyers pushed the coin to the recent high.
In the previous uptrend, BSV reached a high of $180 but was resisted as the market dropped to $165. Perhaps, if buyers have pushed the crypto above the $180 resistance, the bullish momentum would have resumed.
The uptrend will resume as buyers may want to retest the $200 high. On the other hand, if buyers fail to scale through the $180 resistance, BSV may resume a sideways move below the $180 resistance. Meanwhile, price is falling after facing rejection at the 12-day EMA.
Bitcoin SV indicator reading
BSV price is below the EMAs which suggests a downward movement of the coin. However, recently, the coin has been making positive moves. BSV is also in a bullish momentum as the coin is above the 30% range of the daily stochastic.
Key Resistance Zones: $320, $340, $360
Key Support Zones: $140, $120, $100
What is the next direction for BSV/USD?
Bitcoin SV is now making an upward move. According to the September 8 uptrend, the coin reached a high of $179. However, the crypto was repelled but the last retraced candle body tested the 50% Fibonacci retracement level. This implies that the coin will rise and reach 2.0 Fibonacci extension level or $210 high.
Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.
OhNoCryptocurrency via https://www.ohnocrypto.com/ @coinidol.com By Coin Idol, @Khareem Sudlow