Usually we see the BSV/BTC pair 'pump and dump'ing. - But we are witnessing a retest of a falling wedge right now. - It might be the beginning of an (long term) uptrend here. - Considering the positive news that Binance (better said: Users that use Binances mining pool) began to mine BSV quiet extensively. (~13% of all BSV hash rate as of today).
With Binances hash rate, BSV began to surpass BCH in the total amount hash rate. There are 2 variables left for me to really flip BCH in today's metrics. - Amount of mining nodes and block length (BCH is only 220 Blocks ahead.)
Which means BSV is undervalued and a long position could be considered here.
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MACD says the down trend will continue the next 21 days - It says there will be another and greater dump incoming... But that would be too simple, wouldn't it...
Trade closed: target reached
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So. You can ride the wave here or close it. - I personally will ride the wave on the BSV/USD side.