Supply zones: $100, $150, $200
Demand zones: $50, $40, $30

BSVUSD is in a bearish trend in its medium-term outlook. The bearish pressure was sustained within the range as predicted and this led to the break of the lower line of the range at $61.03. BSVUSD dropped to $59.86 in the demand area before the end of yesterday session.

Today’s 4-hour opening candle at $60.27 kept the bears hope of further downward movement alive as the cryptocurrency is currently down to $58.00 in the demand area.

Price is below the two EMAs that are fanned apart which implies strength in the context of the trend and in this case the downtrend while the stochastic oscillator signal points down at 2% in the oversold region an indication of downward momentum in price of the cryptocurrency in the medium-term.

The cryptocurrency is in a bearish trend in its short-term outlook. The bears kept pushing price down after the break of the demand area as predicted yesterday breaking the $60.00 predicted and making a further low at $60.20 in the demand area before the end of yesterday session.

Today’s 1-hour opening candle at $60.13 is bearish sustaining the bearish pressure and already down to $58.00. New low will be attained before the end of today session as the momentum down south increases.

The stochastic oscillator signal points down at 8% in the oversold region. This suggests further downward momentum price of the cryptocurrency in the short-term.

$50.00 in the demand area may be tested 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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