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

BSVUSD continues in a bearish trend in its medium-term outlook. The bears kept hold of the market and dropped the cryptocurrency further down to $76.00 in the demand area before the end of yesterday session.

Although an attempt was made by the bulls to stage a return. This was indicated by the bullish railroad at $83.50 but its failure increased the bears' momentum south as BSVUSD dropped to $74.00 after today’s opening. This was predicted in yesterday analysis.

A retest is important to secure and open the gate for the $50.00 mark in the demand area. Price is still below the two EMAs crossover and the stochastic oscillator remains in the oversold region at 17% with its signal pointing down. An indication of downward momentum and BSVUSD may continue to drop.

The cryptocurrency remains in a bearish trend in its short-term outlook. The strong bears' pressure kept making lower highs and lower lows. This is a reflection of a down-trending market. $77.58 in the demand area was the low of yesterday session.

Today’s bearish 1-hour opening candle sustained the bearish momentum. BSVUSD had dropped to $74.00 shortly after opening with room for more lows.

Price is below the two EMAs that are fanned apart which is a reflection of the strong bearish trend. The stochastic oscillator is at 34% and it signal points up. It suggests a brief upward price movement may occur but the bears still hold 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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