2018-12-15 12:11 |
BSV/USD Long-term Trend – Bearish
Distribution territories: $100, $150, $200
Accumulation territories: $60, $50, $40
From the chart reading, the BSV/USD market has been seeing more of downwards than upwards in its price valuation movements since December 8 until the present time. Going by that assertion, the 14-day SMA’s sell signal line has made a visible confirmation of that to stand especially while the lower range band was breached southwards.
On Dec. 10, the 50-day SMA was intercepted from the top by the 14-day SMA. The market has again touched a lower mark as obtained previously on December 5. Currently, the market has been trading around $70 market territory below the 14-day SMA. The 50-day SMA is located above the 14-day SMA. The Stochastic Oscillators have dipped into the oversold zone to slightly pointing north below range 20.
The BSV/USD market appears to keep surging up to test around the 14-day SMA’s trend-line location before losing out the momentum to bears. The territory of $70 now seemingly acts as an immediate foundation for any possible emergence of a bullish trend currently in the market.
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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