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

BSVUSD remains in a range-bound market its medium-term outlook. The strong bearish pressure successfully broke the lower demand area at $73.00. BSVUSD went further down to $71.77 before it lost momentum. The bulls stage a return due to the formation of a pinbar.

BSVUSD rose to $76.91 in the supply area before the end of yesterday session. Although today’s opening candle at $75.20 was bullish yet the bears' pressure remains strong as BSVUSD dropped to $73.00 within the range.

BSVUSD is in consolidation and trading between $84.00 in the upper supply area and at $73.00 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 bearish trend in its short-term outlook. After the $72.00 target was attained yesterday as predicted yesterday the bears dropped the cryptocurrency further down to $71.77.

The bulls returned as the pressure was lost at $76.31 in the supply area. This area is the upper line of the descending channel. The bears stage a strong comeback after another retest at the upper line.

BSVUSD is currently down at $74.75 in the demand area below the two EMAs and stochastic oscillator signal points at 19%in the oversold region. These imply downward momentum in price in the short-term.

The bears' target remains the lower line of the channel at $73.44 in the demand area.

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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