BSV/USD Long-term Trend – Ranging Distribution territories: $84, $92, $100 Accumulation territories: $68, $60, $58

Prior to the current range trading activities in the market that have started on January 15 this week, BSV/USD market had witnessed a different degree of ups and downs. The pair has been choppily moving around $76 mark until present.

The last time that the crypto managed to surge northwards past the 50-day SMA was on January 13 during which around $87 high price value was achieved. Subsequently, the crypto lost out momentum to forge ahead and hence the breaking of the SMA indicators downwards. The 14-day SMA is currently located below the 50-day SMA. The Stochastic Oscillators are now briefly pointing south under range 60. That suggests the possibility of bears coming back to the market gradually.

Indicators still depict a probable selling pressure of this crypto-trade as long as its 50-day SMA is visibly unbroken northwards against $80 market value. Like wisely, traders need to be wary of price territories of between $84 and $80 to avoid the possibility of getting trapped by a false breakout of those levels.

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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