ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

Bitcoin SV Price Forms Triple Bottom Chart Pattern; potential Bullish Reversal Level

Share On Facebook
share on Linkedin
Print

The coin may bounce up from the support level of $171 provided the mentioned level holds and the price may increase towards the resistance levels of $185, $198, and $217. In case, the bears were able to penetrate the $171 downside, the support level of $152 and $134 may be tested.

©
Bitcoin SV Price Analysis – March 01
BSV/USD Market
Key Levels:

Resistance levels: $185, $198, $217
Support levels: $171, $152, $134

BSV/USD Long-term Trend: Bearish

On the daily chart, BSV is bearish. The coin was under the bears’ pressure for more than two weeks; this led the price to decrease to the low of $171 after it breaks down the $198 and $185 price levels. The price tested the support level of $171 on February 23, it pulled back and retested the level on February 26. The support level holds the price, pulled back, and retested the level third time on 28 February.

BSV daily chart, March 01

It seems the bearish momentum is getting weak. The price is trading below the 9 periods EMA and 21 periods EMA at a distance which indicates bearish momentum. The coin may bounce up from the support level of $171 provided the mentioned level holds and the price may increase towards the resistance levels of $185, $198, and $217. In case, the bears were able to penetrate the $171 downside, the support level of $152 and $134 may be tested. The relative strength index period 14 is not displaying a specific direction, parallel at 40 levels indicates consolidation is in progress.

BSV/USD Medium-term Trend: Bearish

BSVUSD is bearish in the 4-hour chart. The price is under the bears’ control and the price decline to the bottom at the $171 support level. The price has touched the $171 support level three times leading to a triple bottom chart pattern. There is the probability that the price may reverse at the $171 support level.

BSV 4-hour chart, March 01

The price retains its trading below the 9 periods EMA and 21 periods EMA. The Relative Strength Indicator is parallel at 40 levels to indicate a ranging BSV market.

Source: https://learn2.trade

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com