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

BSVUSD remains in a range-bound market in its medium-term outlook. The formation of an inverted hammer at $110.92 in the supply area after the exhaustion of bullish momentum was an indication of the bearish pressure.

$93.00 and $91.00 were the low attained on 7th and 9th December as the bears continue their journey down south within the range.

Price hovering around the two EMAs which is a reflection of the ranging scenario.

The cryptocurrency is in consolidation and trading between $103.17 in the upper supply area and at $90.94 in the lower demand area of the range. A breakout at the upper supply area may be considered for a long position while a breakdown at the lower demand area may be a short position with good candle pattern as confirmation for entries.

The cryptocurrency enters into consolidation in its short-term outlook. The struggle for control between the bulls and the bears continues as the new trading week begins. After dropping BSVUSD to $91.00 in the demand area, the bears lost momentum.

$103.45 in the supply area was the high the bullish pressure was lost as the cryptocurrency enters the range.

The cryptocurrency is in consolidation and trading between $103.17 in the upper supply area and at $90.94 in the lower demand area of the range. Patience is required to allow for a breakout at the upper supply area or a breakdown at the lower demand area before taking any position.

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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