Supply zones: $150, $200, $250
Demand zones: $50, $40, $30

BSVUSD continues in its bullish trend in its medium-term outlook. Yesterday prediction of a price getting to the 61.8 fibs ($93.38) was nicely achieved. The strong bullish pressure was sustained as BSVUSD went further up to $96.75 in the supply area.

The bears' reaction at 61.8 fib area was weak as the cryptocurrency dropped to $85.10 in the demand area with a marubozu candle but lacked the needed momentum to continue the journey downward.The bulls remained in control with 78.6 fib area the next target after the resumption of uptrend continuation.

Today’s bullish 4-hour opening candle at $85.17 sustained the momentum and BSVUSD went back up to $92.49 in the supply area shortly after opening.

Price is around the 50.0 fibs and above the two EMAs crossover an indication of strong bullish pressure. $101.74 i.e. the 78.6 fib area in the supply area may be retested in the medium-term.

The cryptocurrency is in a bullish trend in its short-term outlook. The bulls maintained their hold of the market with a push to the upper line of the channel as predicted in yesterday analysis. $96.97 in the supply area was tested before a bounce to the downside.

Wicks and bearish candle signaled bears return. BSVUSD went down to $85.10 in the demand area before the end of yesterday session as the lower line of the channel remains the target before a bounce to the upside.

Price is below the 10-EMA and but above the 50-EMA. This suggests strong bullish pressure but some minor drawdown to the lower line. A bounce off the lower line may occur in the short-term  as the cryptocurrency journey north.
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The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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