since it doesn't have a clear motive wave since the development of the price...this scenario might suggest a current development of higher degree impulsive wave which the price now can explode at any time to make its wave 3.
breaking the support line might weaken this view.
BSV has been significantly underperforming most of the major alt coins and BTC for the last several months. High volatility funnel over the last couple of months and the geometry of the price action over the last year indicates to me that a major move up is imminent for BSV.
CYCLE LENGHT: 75 DAYS OR (10.7 WEEKS - 2.5 MONTHS)
NEXT BOT: 23 APRIL 2021
NEXT TOP: 01 MAY 2021
LIKE AND FOLLOW FOR MORE BITCOIN SV (BSV) CYCLES.
PLEASE DROP A COMMENT IF YOU LIKED THE IDEA AND FEEL FREE TO POST YOUR OWN SET UPS.
*THIS IS NOT FINANCIAL ADVICE, DATES ARE NOT EXACT AND CYCLES TEND TO INVERSE*
For the last couple of months ~$267 has proven to be a key level for BSV. The previous local tops in early April, mid-February, and early January all failed to close above that level and hold it. Over the last few days we've been increasingly pushing up against it but still, it fails to hold.
To break and stay above it will require a High Volatility Funnel (HVF)...