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

BSVUSD remains in bearish trend in its medium-term outlook. The descending channel remains the structure of the cryptocurrency in the medium-term. The bulls had a brief hold of the market yesterday within the channel. The bullish marubozu candle at $75.88 sustained the bullish momentum as BSVUSD was up at $82.20 in the supply area before losing momentum.

The bears gradually stage a return before the end of yesterday session with the bearish inverted hammer formation.

Today’s bearish 4-hour candle continue to keep the bears in control of the market as BSVUSD was down to $77.80 in the demand area. Continuation to the lower line of the channel remains obvious as price is below the two EMAs and the stochastic oscillator signal points down at 35%.

The cryptocurrency continues in the bearish trend in its short-term outlook. The strong bullish pressure was rejected at the key supply area around the $82.00 with yesterday session ended. After today’s bullish opening session and BSVUSD rose to $79.98 at the key supply area, the bears returned as price was down already down to $77.62 in the demand area.
With price below the two EMAs and the stochastic oscillator at points down at 7%. These connote 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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