BSV/USD Long-term Trend – Ranging

Distribution territories: $130, $150, $170
Accumulation territories: $80, $60, $40

On December 6, Bitcoin SV suddenly strived to push northbound past the $120 market territory after been hovering around the $100 and $80 price territories a couple of days. Notably, towards the last trading sessions on Dec. 5, the crypto dropped to test $70 mark and shortly saw a reversal that pulled up past $80 mark on the day.

The crypto in the long-term run swung upwards to test around $125 to encounter a strong price point. The market territories between $120 and $100 have now been regarded as the current range. The 14-day SMA is located over the 50-day SMA. The Stochastic Oscillators have appeared to start a consolidation move around range 60.

This crypto seems to have lost out momentum as it has been witnessing a line of rejections between the market territories of $120 and $110, and that may probably result in bringing down price once. The crypto may find another strong foundation between the $90 and $60 marks.

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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