Bitcoin‌ SV Price‌ ‌Analysis:‌ BSV Building Rounding Bottom, While Trading Above All Moving Averages

  • Bitcoin SV Created a rounding bottom pattern and has taken support from the 20-DMA around $210
  • The pair of BSV/BTC is trading below all the moving averages and standing at 0.005122 BTC with intraday loss of -4.28%
Source:tradingview

Bitcoin SV (BSV) over the monthly chart is building-up a rounding bottom; however, it has bounced after taking the support of 20-Day Moving Averages (DMA). Presently, it is trading above all the moving averages of 20,50,100 and 200-Day. Support on the downside is placed around $200 and $180, which can be considered strong support. Meanwhile, resistance on the higher side is placed at $325 and $380. At the same time, looking at the volume does not support the bullish momentum for upcoming trading sessions.

Source:tradingview

Bitcoin SV (BSV) over the daily chart trades with a divergence between price momentum and indicators. Where the price in the uptrend; however, the indicators are in favour of bears. BSV is currently trading at $244 with an intraday drop of -7.82%. While volume drops -11.16% standing at $2,789,202,563, likewise the total market capitalization standing at $4,535,706,418 with major drop of -7.89%.

Over the daily chart, support is placed around $220 and $200. While resistance is situated at $275 and $290.

Relative Strength Index (Bearish) indicates a bullish momentum while trading at 53.13. However, it is heading towards an oversold zone after correcting from the overbought zone, indicating its bearish momentum.

Moving Average Convergence Divergence (Bearish) currently indicates a Bearish trend on the daily chart as is trading with the significance of the seller’s signal line (red) over the buyer’s line (green).

Support levels: $200 and $180

Resistance levels:$325 and $380

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