Bitcoin SV price analysis: What is about this trend reversal signal for BSV?

by James · July 13, 2022

The Bitcoin SV exchange rate is trading with strong uptrend momentum over the daily price chart.
BSV crypto is still below the 20, 50, 100 and 200-day daily moving averages.
The BSV / BTC pair is at 0.002578 BTC with an intraday gain of 1.42%.

The price of Bitcoin SV seems to fall considerably into the bottom of the consolidation phase despite the bulls’ best efforts. BSV must establish solid bullish support before going up to the higher level. After an exciting ride on the Pris-og-dal course, BSV was stuck on the daily price chart between $ 43.77 and $ 65. The BSV coin price is traded with a strong upward momentum on the daily price chart. The token must go up towards the upper trend line to break out. Until BSV bulls maintain their position on the upper trend line, investors in BSV must persevere. After the hammer light over the daily chart that played a trend reversal for the BSV coin. The token began to rise towards the upper trend line.

The market value of Bitcoin SV, which is currently trading at $ 51.12, has increased by 1.84% compared to the previous day. Trading volume increased by 7.08% during intraday trading. Therefore, the accumulation rate should be increased during the intraday trading session. The ratio between volume and market value is 0.04861.

In order to accelerate towards the upper trend line in the horizontal area delimited area above the daily price chart, the BSV coin price must attract more buyers. To disrupt the pattern, the token must gather legions of buyers. But right now, the token is falling over the daily chart. Volume change must increase for BSV to increase dramatically; it is currently below average. BSV crypto is still below the 20, 50, 100 and 200-day daily moving averages.

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Bulls maintain at current level or are arrested?

Despite attempts to attract buyers and price restrictions to the horizontal range-bound region, it appears that the bears now have control over the BSV currency. In order for the symbol to not fall into a card seller trap, it must attract buyers. However, the price behavior of the BSV cryptocurrency shows signs of reversing the trend according to the current candlestick pattern. However, it seems that the trend has reversed over the daily price chart.

Technical indicators suggest the upward trend of the BSV coin. Relative Strength Index shows the trend of the BSV coin. The RSI is at 41 and is approaching neutrality.

MACD shows the trend towards BSV coins. The MACD line is approaching the signal line for a positive crossover.

Conclusion

The price of Bitcoin SV seems to fall considerably into the bottom of the consolidation phase despite the bulls’ best efforts. BSV must establish solid bullish support before going up to the higher level. After an exciting ride on the Pris-og-dal course, BSV was stuck on the daily price chart between $ 43.77 and $ 65. The BSV coin price is traded with a strong upward momentum on the daily price chart. The token must go up towards the upper trend line to break out. Volume change must increase for BSV to increase dramatically; it is currently below average. However, the price behavior of the BSV cryptocurrency shows signs of reversing the trend according to the current candlestick pattern. However, it seems that the trend has reversed over the daily price chart. Technical indicators suggest the upward trend of the BSV coin. The MACD line is approaching the signal line for a positive crossover.

Technical levels

Support levels: $ 48.00 and $ 43.77
Resistance levels: $ 53.00 and $ 57.00

Disclaimer

The views and opinions expressed by the author, or any of the persons mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading in cryptocurrencies carries a risk of financial loss.