Supply zones: $150, $200, $250
Demand zones: $50, $40, $30

BSVUSD continues in the range-bound market in its medium-term outlook. The inverted hammer that opened yesterday session fully returned the bears as momentum to the downside was increased. BSVUSD dropped to $62.50 in the demand area before the end of yesterday session.

Todays 4-hour opening candle $62.87 is bearish thus sustaining yesterday bearish pressure.

Price is below the two EMAs and the stochastic oscillator is in the oversold region with its signal pointing down at 1o%. These suggest downward momentum in price of the cryptocurrency in within the range may occur.

BSVUSD is in consolidation and trading between $70.03 in the upper supply area and at $61.03 in the lower demand area of the range. Traders should wait for a breakout at the upper supply area or breakdown at the lower area with a retest before a position is taken.

The cryptocurrency is in a bearish trend in its short-term outlook. The bearish pressure returned shortly after the opening candle at $63.01 to continue the journey down south.

The head and shoulder pattern aptly describe the structure of the cryptocurrency in the short-term. The right shoulder is currently developing with price at $62.73 in the demand area.

Momentum to the downside is confirmed by the stochastic oscillator whose signal points down at 9%. $61.00i n the demand area is the bears' target 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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