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

BSVUSD continues in its bullish trend in its medium-term outlook. The strong bullish pressure retested the predicted high in yesterday analysis at the 78.6 fibs ($101.74) with a large bullish candle. Increased bullish pressure pushed BSVUSD up at $119.67 in the supply area. This was the high attained by the cryptocurrency for the day as the session ended with a bullish spinning top.

Today’s bullish 4-hour opening candle at $109.96 confirmed the bullish takeover after the spinning top formation as BSVUSD price jumped to $126.00 in the supply area shortly after opening.

$140.00 in the supply area which is the 1.618 fib level may be the bulls target in the medium-term as price is conspicuously above the two EMAs crossover that is gradually fanned apart which is a sign of a strong uptrend.

The cryptocurrency continues in its bullish trend in its short-term outlook. The upper line of the channel was broken as predicted yesterday with a large bullish engulfing candle and later retested as bulls continue their journey north.

$119.67 in the supply area was attained before the bearish pullback to retest that retested the upper line.

The bullish momentum was sustained despite a bearish 1-hour opening candle as the cryptocurrency price rose to $126.00 in the supply area.

Price is below the two EMAs crossover and the stochastic oscillator is in the overbought region at 75% and it signal points down suggesting a minor drawdown. Before uptrend continuation in the short-term.
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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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