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

BSVUSD remains in a range-bound market in its medium-term outlook. $64.78 in the supply area was the high of the day while $60.43 in the demand area was the low of the day as the cryptocurrency continues in the range.

The 4-hour opening candle at $61.63 is bearish with price already down at $60.88 in the demand area with potential for further low in the range.

Price is below the two EMAs and the stochastic oscillator signal points down at 35%. This suggests a downward 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 remains in a bearish trend in its short-term outlook. $64.78 in the demand area was the high of the day attained as the bulls before the exhaustion sets in and the candle close with a wick.

The bearish marubozu signaled the bears returned. $64.78 in the demand area was the low of the day before the end of yesterday session.

The momentum was sustained after today’s opening session as the cryptocurrency is currently down at $64.78 in the demand area.

The bears may continue to push price down as confirmed by the signal of the stochastic oscillator that points down at 7% in the oversold region with price below the two EMAs.
$56.84 in the demand area remains the bears 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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