Here we have the chart for Bitcoin SV (BSVUSD) by the request of one of our supporters... We are looking at it long-term (weekly timeframe).
A new ATH (All-Time High) was hit in January 2020 for Bitcoin SV vs the Dollar. After the ATH prices started to retrace and are now trading below EMA10. After breaking and closing below this level, we can expect more drop.
Here I am sharing just one scenario based on the bullish perspective and the continuation of a bullish cycle. So we can expect further retrace before the continuation of the uptrend. If support fails on the way down, then we can expect prices to move lower.
We can find support at the 0.786 Fib. retracement level as well as the purple trendlines.
This is not financial advice. Thanks a lot for reading.
Namaste.
Comment
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This one is going as charted... Which means that BSVUSD is going up now.
Crazy to say this but I believe you somehow mapped this move on BSVUSD perfectly. Look how it just wicked down to your lower trend line then started a swing towards the upside. Excellent analysis Alan!
@alanmasters awesome work Mr Masters! After I hit the play button I was shocked how accurate this has been so far. Incredible. And hopefully it continues :)
hondsny
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Hey Alan, after the big drop, what do you think is next for BSV?
destin2008
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Trading below ema10 ( $715) with 0.786 Fib ( $132) being support, thats a huge range.
Could give us any more details?
I mean bsv been moving sideways in 188-203 range in last 48 hrs
Is it ready to move up or still dropping?
Thanks Alan
AlanSantana
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@destin2008, I will look at it on the daily and publish...