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

BSVUSD is in a bearish trend its medium-term outlook. The strong bearish pressure was dominant over the weekend with a break at $73.00 in the lower demand area of the range on 26th January. Momentum was sustained as BSVUSD made a new low at $70.70 before the close of yesterday session.

The large bearish marubozu candle at $70.80 opened today’s 4-hour session and drop the cryptocurrency down at $65.86 in the demand area.

The journey to the south just begun as indicated by the stochastic oscillator signal that points down at 10% and price below the two EMAs that are fanned apart. These imply downward price movement in the medium-term.

The cryptocurrency is in a bearish trend in its short-term outlook. $73.20 of the lower demand area of the range was broken and the cryptocurrency was further taken down $70.36 in the demand area.

The 1-hour opening candle at $73.20 was a doji as the bears' pressure returned and price was down to $65.70 in the demand area.

With the price below the two EMAs that area fanned apart and the stochastic oscillator signal pointing down in the oversold region. It suggests that the BSVUSD will make new lows 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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