Bitcoin SV Price Pulls Back to Gather Momentum for Bullish Trend

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Bitcoin SV Price Analysis – August 31

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The price may break up the barrier at $185 level and the key resistance level at $217 may be tested when the bulls increase their momentum, further increase may push it to $233. Price may reduce to the support level of $148 and it may continue to the support level of $101 and $73 in case the bears oppose the bulls at $185 level.

Key Levels:

Resistance levels: $185, $217, $233

Support levels: $148, $101, $73

BSV/USD Long-term Trend: Bullish

On the daily chart, Bitcoin SV is bullish. The Bitcoin SV experienced a pullback towards the dynamic support level last week when it tested the resistance level of $185. The bulls are waking up again and the bullish momentum is restoring in to the BSV market. Yesterday, the price increased to test the previous high at $185 but later pull back. There is tendency that the price may increase further above $185 level.

BSVUSD Daily chart, August 30

The fast moving EMA remains above the slow moving EMA and Bitcoin SV is trading above the 9 periods EMA and 21 periods EMA on the daily chart as a sign of bullish trend. The price may break up the barrier at $185 level and the key resistance level at $217 may be tested when the bulls increase their momentum, further increase may push it to $233. Price may reduce to the support level of $148 and it may continue to the support level of $101 and $73 in case the bears oppose the bulls at $185 level. The Relative Strength Index (14) is at 60 levels with the signal line pointing up to indicate buy signal.

BSV/USD Medium-term Trend: Bullish

Bitcoin SV is bullish on the 4 hour chart. The former resistance level of $148 is broken up and turned to support level. The buyers pushed up the price to test the resistance level of $185. The mentioned resistance level is yet to be broken up. The price is currently ranging within $185 and $148 levels.

BSVUSD 4-hour chart, August 30Source: https://learn2.trade 

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