THELOGICALINDIAN - Bitcoin SV amount rallied added than 20 afresh and climbed appear the 20240 attrition BSV is currently trading with a able bullish bent and it could alike billow aloft 20240 and 20500
Bitcoin SV Could Continue To Rise
This month, bitcoin SV amount started a awful uptrend from the $95.00 abutment abject adjoin the US Dollar. BSV aggregate momentum aloft the $120.00 and $150.00 attrition levels.
Furthermore, it acclimatized aloft the $150.00 akin and the 100 simple affective boilerplate (4-hours). Later, there was a alliance appearance aloft the $150.00 level. Finally, the beasts were able to advance the amount aloft the $160.00 and $170.00 levels.
More importantly, there was a breach aloft a above application triangle abreast $165.00 on the 4-hours chart of the BSV/USD pair. It opened the doors for added assets and bitcoin SV amount rallied appear the $200.00 level.
A new 2020 aerial is formed abreast $200.07 and the price is currently assuming a lot of absolute signs. It seems like there are aerial affairs of added upsides aloft the $200.00 and $205.00 attrition levels.
The abutting aloft attrition is abreast the $220.00 level, aloft which the beasts are acceptable to aim a analysis of the $250.00 barrier in the advancing days.
Downside Correction in BSV?
If there is a downside correction, an antecedent abutment is abreast the $188.00 level. Besides, the 23.6% Fib retracement akin of the contempo assemblage from the $147.26 low to $200.07 aerial is additionally abreast $188.00 level.
The capital abutment on the downside is abreast the $175.00 breadth (the contempo blemish zone). Additionally, the 50% Fib retracement akin of the contempo assemblage from the $147.26 low to $200.07 aerial is abreast $173.65.
Therefore, dips in bitcoin SV appear the $180.00 and $175.00 levels are acceptable to acquisition buyers in the abreast term.
Technical indicators
Hourly MACD – The MACD for BSV/USD is currently accepting clip in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is now able-bodied aloft the 70 akin and still rising.
Key Support Levels – $188.00 and $175.00.
Key Resistance Levels – $200.00 and $220.00.
