Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
BSV/USD Medium-term Trend: Bullish
Supply zones: $150, $200, $250
Demand zones: $50, $40, $30
BSVUSD is in a bullish trend in its medium-term outlook. The descending channel remains the structure of the cryptocurrency in the medium-term. Rejection of price downward movement to the lower line of the channel after a drop to $75.23 in the demand area returned the bulls.
The 10-EMA is broken as the bullish momentum increased within the channel. BSVUSD was up at $78.41 in the supply area.
The bulls target in the medium-term may be 50-EMA which put the cryptocurrency price at $80.24 in the supply area as more candles open and closed above the 10-EMA.
BSV/USD Short-term Trend: Bullish
The cryptocurrency is in the bullish trend in its short-term outlook. $75.23 in the demand area was the low of the day as the bears dropped the cryptocurrency before the bulls stage a return before the market closes.
The bullish 1-hour opening candle sustained the momentum with the bullish engulfing candle as BSVUSD rose to $78.41 in the supply area.
The bullish pressure may push price to the key supply area. This will be the fourth touch of price on this area and a breakout may occur in the short-term.
Traders may enjoy the ride to the supply area while the bull's momentum builds up for a possible breakout as confirmed by the signal of the stochastic oscillator that pints up at 65%.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.