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

BSVUSD continues in a range-bound market in its medium-term outlook. The bullish pressure is strong within the range after the opening spinning top followed by the bullish candle.

$65.45 in the supply area was the high of the day before a brief pullback to $64.14 in the demand area before the end of yesterday session.

The 4-hour opening candle at $64.74 is bullish. Price is above the two EMAs and the stochastic oscillator signal points up at 61%. This suggests upward momentum in price of the cryptocurrency in the within the range may occur.

BSVUSD is in consolidation and trading between $68.00 in the upper supply area and at $60.00 in the lower demand area of the range. Traders should wait for a breakout at the upper supply area or breakdown at the lower area with a retest before a position is taking.

The cryptocurrency returns to the bullish trend in its short-term outlook. After a drop in price to $63.17 in the demand area, the bears lost momentum. The bulls gradually returned as BSVUSD pushed price to $65.59 before the end of yesterday session.

Today’s 1-hour opening candle at $64.14 was bullish with price above the two EMA and the stochastic oscillator at 71%. This suggests an upward momentum in price in the short-term.

The crypto is in an ascending channel. The upper line of the channel is the bull target in the short-term.

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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