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

BSVUSD continues in the range-bound market in its medium-term outlook. The bears had the upper hand and dominated the market within the range as the new week began.
$62.29 in the demand area was the low the of yesterday session as the bearish pressure took over despite a bullish opening.

The bears sustained the momentum with a bearish opening today at $62.29. BSVUSD is currently down at $61.27 in the demand area within the range.

Price is below the two EMAs and the stochastic oscillator signal points down at 3%. These suggest downward momentum in price of the cryptocurrency in within the range in the medium-term.

BSVUSD is in consolidation and trading between $68.00 in the upper supply area and at $61.03 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 taken.

The cryptocurrency is in a bearish trend in its short-term outlook. The key demand area was established around the $62.25 area since 30th January was broken by the bears' pressure towards the end of yesterday session. The cryptocurrency dropped further to $62.25 in the demand area.

With price below the two EMAs and the stochastic oscillator in the oversold region at 19%. These suggest further downward momentum price of the cryptocurrency in the short-term.

$60.00 in the demand area may be retested as bears pressure becomes stronger and more candles opened and closed below the two EMAs 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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