BSV/USD Long-term Trend – Ranging Distribution territories: $90, $110, $130 Accumulation territories: $40, $30, $20

A series of price range movements still occur in the trade between Bitcoin SV and the US dollar this week. On February 15, the pair briefly got pressed southwards past $60 market territory, but not too long; it rallied back a bit above it.

Currently, price has been faintly ranging along with the 14-day SMA closely to the aforementioned territory. The 50-day SMA is located over the 14-day SMA as they both still bent southwards. That indicates a bearish impact in the market as not yet totally over. The stochastic Oscillators have crossed at range 60 to suggest that the crypto-market’s movement will possibly see more lows than highs.

Though the BSV/USD downward market movement looks more achievable in the next trading sessions, but then, it is expected to be in a range format. In the case of that assumption, price territories between $60 and $50 may be the zones within which the bulls may use to gather their momentum during a strong price action to launch back into 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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