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

BSVUSD continues in a range-bound market in its medium-term outlook. $85.29 in the demand area was the low while $88.55 in the supply area was the high of yesterday trading session as the struggle for market control between the bulls and the bears continues.

The 4-hour opening candle at $86.94 was an inverted hammer an indication of the bears' pressure within the range coupled with the price below the two EMAs.

BSVUSD is in consolidation and trading between $98.00 in the upper supply area and at $82.00 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

The cryptocurrency continues in the bearish trend in its short-term outlook. The bulls returned after dropping the cryptocurrency to $85.19 in the demand area as predicted.

BSVUSD rose to $8.55 in the supply area before momentum loss signaled by the bearish spinning top. The journey down continues before the end of yesterday session as BSVUSD went down to $86.00.

Today’s bearish 1-hour opening at $87.13 may sustain the bears' pressure in the short-term as journey down south resumes. This was further confirmed with price below the 10-EMA and the stochastic oscillator signal points down at 37% which implies downward momentum in price of the cryptocurrency.

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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