BSV/USD Medium-term Trend: Bearish

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

BSVUSD continues in the bearish trend in its medium-term outlook. The inverted bearish hammer of yesterday opening signaled the bears' return as BSVUSD went down to $89.34 in the demand area. Increased bearish pressure lead to a further drop in the cryptocurrency price to $83.00 before the end of yesterday session.

Today’s 4-hour opening candle sustained the bears' pressure with BSVUSD down to $81.70 after opening.

Price is below the two EMAs crossover an indication of strong bears pressure and the stochastic oscillator is in the oversold region at 14% and it signal points down. This implies downward movement in price in the medium-term. The journey to 78.6 fibs is almost done as the bears continue its journey down south.

The cryptocurrency continues in the bearish trend in its short-term outlook. The 10-EMA was a strong resistance against upward price movement as the bulls tried to stage return at $88.70.

The bearish marubozu candle at $88.73 further confirms the bears' control of the market as the cryptocurrency dropped to $84.60 in the demand area and closed the day at $83.34.
BSVUSD was down to $88.55 shortly after opening as the bearish pressure continues.

Price is around the 10-EMA and the stochastic oscillator is in the oversold region at 9% and its signal points up which signal a brief uptrend before the downtrend continuation resumption.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

230 +