Technical Analysis for BSVUSD for 27th October 2021
BSV Prices Stuck in a $90 Range, BSV/USDT Bulls Expect for a Close above $200
Past Performance of BSV
CryptoAltum data shows that BSV is down 15 percent from H2 2021 highs at spot rates.
Despite the draw-down, BSV/USDT prices are bullish, ranging inside a bull flag.
In a wedge, the breakout direction would shape the BSV short-to-medium term trajectory.
What to Expect of BSV
The BSV/USDT price is in range mode. Even with gains of Q3 2021, the bear trend of September saw gains unwound.
However, in the days ahead, BSV prices could trend in new H2 2021 highs if bulls overcome $190 and $200, marking October and September 2021 highs, respectively.
On the other hand, losses below the bull flag at $160 signal weakness.
In turn, this could pull down BSV, syncing with September 2021 losses.
BSV Technical Analysis
From a top-down analysis, BSV/USDT prices are in range, oscillating within a broader $90 zone in H2 2021.
At spot rates, BSV/USDT prices are near H2 2021 highs with better odds of a breakout if buyers overcome $190 and $200.
Technically, a stronger BTC may offer support to BSV considering the positive correlation.
This would see the coin surge past $200, forming the launching pad for a possible reclaiming of H1 2021 highs of $450.
Even so, it could take a turn for the worse if BSV drops below $160.
Subsequently, it may feed bears of September, who may then accelerate a sell-off back towards H2 2021 lows of $110.
Resistance level to watch: $190 and $200
Support level to watch: $160
Disclaimer: Opinions expressed are not investment advice. Do your research.
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