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Bitcoin SV Price Analysis: BSV/USD Struggles at $92, a Breakdown Likely – Cryptovibes.com

researchsnappy by researchsnappy
December 15, 2019
in Healthcare Research
0
Bitcoin SV Price Analysis: BSV/USD Struggles at $92, a Breakdown Likely – Cryptovibes.com
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Bitcoin SV Price Analysis – December 14

Bitcoin SV struggles at the support of $92. A breakdown will depreciate the coin to a low of $78. Alternatively, if it bounces at the current level, it will rally above $140.

BSV/USD Market

Key Levels:
Resistance Levels: $240, $260, $280
Support Levels: $80, $60, $40

BSVUSD - Daily Chart

BSV fell to the low of $92 and commenced a consolidation above it. In retrospect, the bear market commenced in June after the coin was resisted at $240. In the first bearish impulse, the market fell to a low of $110. The bulls made an upward correction to the high of $180. In the second bearish impulse, the market fell to a low of $80. The bulls also made the second upward correction to the high of $140.

In the final downward move, BSV fell to a low of $92. From the foregoing, the selling pressure will continue, if the bears break the low at $80. BSV will fall and find support at $60. Conversely, BSV will resume an upward move, if the support at $80 holds. Meanwhile, the Relative Strength Index period 14 is level 35 indicates that the market is approaching the oversold region.

BSV/BTC Market
On the BSV/BTC chart, the coin is in a range-bound movement. The market is currently fluctuating between the levels Ƀ0.01000 and Ƀ0.016000. The bulls made an upward move and retested the resistance line on three occasions before falling below the EMAs.

BSVBTC - Daily Chart

Meanwhile, the coin has fallen to the oversold region below the 20%range of the daily stochastic. It means that the market is in a strong bearish momentum.

 

Please note: Cryptovibes.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

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