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BSV/USD Medium-term Trend: Bearish
Supply zones: $150, $200, $250
Demand zones: $60, $50, $40
BSVUSD continues in a bearish trend in its medium-term outlook. $85.50 in the demand area was the low of yesterday as the bearish pressure was sustained. The bulls stage a comeback after the close of the candle as a spinning top a reversal signal.
The bullish pressure pushes BSVUSD to $89.51 in the supply area before the end of yesterday session.
Today’s 4-hour opening candle at $88.18 closed bearish as the cryptocurrency was down to $85.77.
Price is below the two EMAs crossover and the stochastic oscillator is in the oversold region at 14% with its signal pointing down. It implies strong bears pressure in the medium term.
$75.00 in the demand area is still on the card as more candles formed a closed below the EMAs crossover in the medium-term.
BSV/USD Short-term Trend: Bearish
The cryptocurrency remains in a bearish trend in its short-term outlook. The formation of lower highs and lower lows characterize BSVUSD pattern in the short-term during yesterday session.
Market opens today with an inverted doji, an indication of bears continued dominance as BSVUSD initially dropped to $85.77 in the demand area.
Price lies below the two EMAs with the stochastic oscillator signal points down at 23%. It suggests downward momentum in 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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