This website uses cookies to ensure you get the best experience on our website

Technical Analysis for BSVUSD for 2nd December 2021

Bitcoin SV Struggling under the Weight of Sellers, will $140 hold?

Past Performance of BSV

Bitcoin SV is a controversial BCH fork. Like other BTC rooted forks, the coin is under pressure when writing. 

Though there are signs of strength, bears are determined and may succeed if $140 fails, confirming losses of November 26. 

Currently, BSVUSDT prices are inside a tight $20 range within the November 26 sell bar.

What to Expect of BSV

The Q3 2021 swing higher still defines BSVUSDT prices. 

Noticeably, despite selling pressure, prices are within a broad converging wedge. 

For now, BSV sellers are retesting the major support trend line. 

They will succeed; even pressing prices lower should $140 fails. 

In that case, BSV might drop to immediate critical reaction levels at $120 and $110, respectively.

Bitcoin SV Technical Analysis

From an Effort-versus-Results perspective, sellers have the upper hand provided prices trade inside the November 26 sell bar. 

The wide-ranging bar defines the short-term price action. 

A recovery pushing BSVUSDT above $165 might shift the trend to favor buyers in the immediate term. 

Conversely, a high volume break below $140 could see BSV crater to $130—the 78.6 percent Fibonacci retracement level of the Q3 2021 trade range.

Resistance level to watch: $160

Support level to watch: $140

Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.

Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020