✴️ Bitcoin SV Still Targeting 100$ Or More Than 222% Potential

AlanSantana Updated   
This pair can easily cause mixed feelings... At first the chart might not look that good but it is indeed a good setup if we look closer. Let's dive in.

Bitcoin SV (BSVUSD)

A major downtrend has been broken and this is really important because now we can be in neutral territory or at the start of a new trend.

Just as the downtrend lasted for years, the uptrend can do the same.

The bottom low happened mid-June followed by a very strong price bounce.

After this bounce we have a classic correction and boring price action, here is where we look deeper for clues.

The current price might look weak but it isn't.
BSVUSD is currently trading much higher compared to the 10-June low.
It also trades higher compared to the more recent 17-Aug. low.
Finally, the current price is trading above a Fib. level and the May 2023 low.

This all imply some strength.
Since the downtrend is over and we have a very strong bullish bounce after the 10-June low, we can expect a continuation to take place.

This assumption remains valid as long as the 10-June low holds regardless of what happens short-term.

If one wants lower risk the 17-Aug. low can be used as the stop but the bullish bias remains active as long as prices trade above the bottom low.

The longer it takes for the bullish break to happen, the stronger the bullish wave that follows, that's how it works.

So delays can happen but are a good thing overall.

Say some governmental institution unleashes many attacks on the Cryptocurrency market and innocent people and we get another delay... This is nothing, because what is bound to happen will happen and people only become stronger through the struggles they have to face.

Just as it happened with Bitcoin, it had to go through so many challenges to get above $3,000 and become established as a new asset but now it is as strong as the firmament above our heads.

You can delay progress from happening but you can never stop human growth and change.

First the roots, then the trunk, then the leaves, the flower and finally the fruits... The fruits always show up at the end.

Patience is key.

Thanks a lot for your continued support.

Trade closed: target reached:
The goal here was 222% and the pair went higher and produced a total of 259%. If trading, this would equal the profits. Total growth for a position would be 359%.

Thanks a lot for your support.

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