BSV/USD Medium-term Trend: Bearish

Supply zones: $150, $200, $250
Demand zones: $60, $50, $40

BSVUSD is in a bearish trend in its medium-term outlook. The strong bearish pressure was sustained within yesterday range breaking the $90.94 of the lower demand area after the market opens today. $90.00 in the demand area was the initial price the BSVUSD dropped to before the bulls’ minor pullback.

With price below the two EMAs crossover and the stochastic oscillator signal points down in the oversold region at 14%. It implies strong bears pressure in the medium term.

$75.00 in the demand area is the initial bears' target as more candles formed a closed below the EMAs.

The cryptocurrency is in a bearish trend in its short-term outlook. The bears kept the pressure up from $103.17 of upper supply area of yesterday range. $92.68 in the demand area was the low of the day.

Market opens today with an inverted bearish pinbar, an indication of bears continued dominance as BSVUSD dropped to $90.99 in the demand area.

The pullback to $92.65 in the supply area return the bears as the bearish railroad was formed and the cryptocurrency dropped to$89.11 in the demand area.

Price lies below the two EMAs with the stochastic oscillator I the oversold at 12% and its signal down. It suggests downward momentum in price in the short term.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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