Technical Analysis for BSVUSD for 23rd November 2021
Bitcoin SV Dropping, Bulls Limited Below $200
Past Performance of BSV
The BSV price is moving horizontally, consolidating though bears are at a vantage position.
Overall, BSV's recovery depends on the ability of bulls to overcome last week's losses and float above $180 and $200.
On the flip side, should BSVUSDT prices trend lower, clearing last week's lows, there could be more losses for BSV on the offing.
What to Expect of BSV
Technically, BSV is under pressure and may slump if bulls don't return to shore prices.
The immediate critical support is around $145—last week's lows.
If BSVUSDT prices snap to mirror the defining bar of November 7, the coin may drop to September and Q3 2021 lows of around $120 and $100.
Meanwhile, a surge above $200 to register new Q4 2021 highs would be welcomed.
Bitcoin SV Technical Analysis
From the daily chart, candlestick arrangements align to bears.
Notably, the September 7 bear bar anchors the recent price action, dictating momentum.
For buyers to be in control, fading the conspicuous bar, there ought to be strong gains above $200, invalidating the current downtrend.
Things, as mentioned earlier, could turn for the worse if sellers take charge, puncturing holes on weekend gains.
In that case, BSV may rapidly slide to $120—or worse as bears of late H1 2021 flow back.
Resistance level to watch: $180
Support level to watch: $140
Disclaimer: Opinions expressed are not investment advice. Do your research.