- BSV/USD market has been quite experiencing a series of lower highs since March 19.
- All BSV/USD trading indicators show that a consolidation market moves is in the loom.
- Price reversal from a $150 lower range spot could be a decent entry for BSV/USD bulls afterward.
Bitcoin SV (BSV) Price Analysis
• Major distribution territories: $250, $300, $350
• Major accumulation territories: $100, $75, $50
BSV/USD market operations have been experiencing a series of lower highs since March 19, while a visible bullish Japanese candlestick occurred. On April 8, the crypto slightly surged past $200 mark. In the preceding trading days until the present, price has been hovering around the market value earlier mentioned.
Over a couple of trading days, the US dollar’s selling weight against the Bitcoin SV has been on a relaxing mote after momentarily traded southward past $100 value on March 13. BSV/USD bullish trading activities have seemingly had to form a basis around the $150 mark.
Bitcoin SV (BSV) Technical Indicators Reading
About a few days of trading sessions back, the 14-day SMA trading indicator has been closely trending along the lower highs path to the north. Currently, the 50-day SMA trend-line has briefly intercepted from the underneath. That depicts a confirmation of a weak recovery price movement in the crypto trade. The Stochastic Oscillators have slantingly moved downward from the overbought region to now cross the hairs at range 40. That are indications that a consolidation market moves is in the loom.
All the trading indicators depict that BSV/USD trade will soon be by bulls. Meanwhile, a decent bullish entry position needs to be out before placing an order. But, more attentions have to draw to the fact that the pair yet maintains a range trading cycle between the territories of $250 and $150 marks. Price reversal from the $150 lower range spot could be a decent entry for the bulls afterward.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.