BSV/USD Medium-term Trend: Bearish
Supply zones: $150, $200, $250
Demand zones: $50, $40, $30
BSVUSD remains in a bearish trend in its medium-term outlook. The bearish pressure was briefly lost after dropping the cryptocurrency at $89.70 in the demand area making a way for the bulls return. $93.98 n the supply area was the high of the day the bulls pushed BSVUSD before the end of yesterday session.
The bullish momentum was sustained up until $97.41 in the supply area after opening as the candle closes as an inverted hammer a sign of exhaustion and trend reversal.
Price is below the two EMAs crossover an indication of strong bears pressure and the journey away from the 61.8 fib area to 78.6 fibs is imminent in the medium-term.
BSV/USD Short-term Trend: Bearish
The cryptocurrency continues in the bearish trend in its short-term outlook. The bears still manage to drop the cryptocurrency to $89.70 against the predicted $88.55 in the demand area before the end of yesterday session before the bulls stage a return.
The bullish pressure was sustained until today’s opening as BSVUSD rose to $97.41 at the key supply area where it was rejected for further upward movement.
The cryptocurrency is currently down to $90.86 in the demand area. With price below the two EMAs and the stochastic oscillator signal pointing down at 21%. It suggests downward momentum in the cryptocurrency price in the short-term
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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