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

BSVUSD continues in a range-bound market in its medium-term outlook. The bulls are back within the range with the breakout at the two EMAs. This was with a marubozu candle at $63.33. BSVUSD rose to $70.78 in the supply area before the end of yesterday session.
The bears briefly returned with a drop in price to $66.40 in the demand area.

Today’s 4-hours opening candle at $68.08 is a bearish candle. With price above the two EMAs and the stochastic oscillator signal undefined at 66%, the bears may retune after bullish pressure within the range.

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.

BSV/USD Short-term Trend: Bullish

The cryptocurrency is in a bullish trend in its short-term outlook. The strong bullish pressure broke out from the upper supply area at $64.00 with a large bullish candle and retest it. BSVUSD rose to $70.78 in the supply area before momentum lost.
Despite a bearish opening at $66.92 the bulls return and pushed price back up at $68.52.
Price is above the two EMAs and the stochastic oscillator signal points up 48%. These imply upward momentum in price 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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