BSV/USD Long-term Trend – Ranging
Distribution territories: $80, $90, $100
Accumulation territories: $65, $55, $45
There has been a persistence of variant price range movements across most of the crypto-markets over a week, and BSV/USD market is not spared. Price territories of $76 and $72 are the key market lines within which the pair has been choppily featuring until present.
The two trading SMA indicators are slantingly bent southwards, and price has continued to trend along with the SMA paths. There is a short space between the two indicators as the 14-day SMA is located underneath the 50-day SMA. The Stochastic Oscillators have briefly crossed a bit into the oversold zone to point south. That indicates that the market may soon be witnessing some amount of downward price movements.
BSV/USD market seems to keep its re-occurrence around the same aforementioned range zones extensively into the next trading days or weeks. Traders may potentially look out for a decent long entry between $72 and $70 market territories while a reversion comes up.
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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