The BSV price has already increased more than 30% in the last 2 weeks. If you are interested in knowing where Bitcoin SV is going, check out this post.
Bitcoin Satoshi Vision (BSV), Bitcoin’s 2nd fork, continues to advance its goal of conquering the market. Today we see it with a price of USD 240 per unit according to our Crypto Online tool. Despite the fact that Bitcoin SV has been a currency surrounded by much negative controversy, its historical trend continues to drag it upward.
Next we will be analyzing this cryptocurrency in a technical way, in order to forecast its possible near future.
Bitcoin SV long-term trend
As I commented at the beginning of this post, BSV, although it has fallen on some occasions, continues to maintain a succession of higher and higher highs, characteristic of an uptrend.
With the fall of the crypto market, witnessed last March, the price of Bitcoin SV fell towards an important support zone, close to USD 148.
This price level was immediately rejected, demonstrating the impossibility of the bears to continue dragging the current downward.
Today we see bulls in full control, able to quickly wrap bearish intent. While it took more than 2 months for the bears to drag the price down to $ 148, buyers took less than a month to eliminate all those losses and even generate profits.
At the moment, that fall in March seems to be the bottom of the setback before the search for a new historical maximum, this if we observe the upward trend in the long term.
From the weekly chart of the Bitcoin SV price, we look at the EMAs at 8 and the SMA at 18 crossed to the upside, tools I use to identify the medium-term trend.
With the strong bullish movement of the crypto market, BSV was influenced in a very positive way, going through resistance after resistance.
After the breakdown of resistance at USD 208, the upward trend was reaffirmed, and the terrain was cleared to a minimum of USD 295, this if we only look at the weekly chart.
We are still witnessing a momentum in process, so it is possible that it will start a decline soon before the continuation of the previous trend.
In the daily time frame we can observe the strong buying pressure of the last days, making it more than clear that Bitcoin SV has a short-term uptrend.
The 200-day SMA was recently traded higher, and after serving as dynamic support, started a next momentum, still in the works.
Currently the ground from the daily chart is clear to the near $ 249.3. There you might start a pullback before the bullish continuation. When this barrier is crossed, the panorama will be free until USD 295 – USD 300.
The 8-day EMA and 18-day SMA moving averages have been following the short-term uptrend, and they may function as dynamic supports in the pullback that I think will start soon.