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Breaking: $BSV Spike 38% Today Amidst Breaking out of A Pennant The price of Bitcoin forked token called Bitcoin SV ticker name ( AMEX:BSV ), saw a notable uptick of about 38% today amidst breaking out of a falling wedge with current market metrics hinting at another leg up. What Is BSV? Bitcoin SV (BSV) emerged following a hard fork of the Bitcoin Cash (BCH) blockchain in 2018, which had in turn forked from the BTC blockchain a year earlier following the blocksize wars. BSV claims to fulfill the original vision of the Bitcoin protocol and design as described in Satoshi Nakamoto’s white paper, early Bitcoin client software and known Satoshi writings. BSV aims to offer scalability and stability in line with the original description of Bitcoin as a peer-to-peer electronic cash system, as well as deliver a distributed data network that can support enterprise-level advanced blockchain applications. Technical Outlook Since April high of 2021, that saw the asset deliver a stunning 826% in gains, the asset quickly retraced losing about 94% of market value for over 4 years now. The rise in price today is integral for AMEX:BSV in order to bring back life to the project as the altcoin has been mute lately with no on chain development or ecosystem growth. However, present market metrics shows we might experience a brief respite before another leg-up as the asset is oversold as hinted by the RSI at 92. Our next support is the $40- $37 zone.
Long
by DEXWireNews
A trading opportunity to buy in BSVBTCTechnical analysis: . BitcoinSV/Bitcoin is in a down trend and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 24. . While the RSI downtrend and the price downtrend in the daily chart are not broken, bearish wave in price would continue. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.01071000 to 0.00741000). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (0.01071000) Ending of entry zone (0.00741000) Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons: Take Profits: TP1= @ 0.01418000 TP2= @ 0.01608000 TP3= @ 0.01876400 TP4= @ 0.02147100 TP5= @ 0.02475000 TP6= @ 0.03011000 TP7= Free
BLong
by ForecastCity
2
A trading opportunity to buy in BSVBTCTechnical analysis: . BitcoinSV/Bitcoin is in a down trend and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 24. . While the RSI downtrend and the price downtrend in the daily chart are not broken, bearish wave in price would continue. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.01071000 to 0.00741000). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (0.01071000) Ending of entry zone (0.00741000) Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons: Take Profits: TP1= @ 0.01418000 TP2= @ 0.01608000 TP3= @ 0.01876400 TP4= @ 0.02147100 TP5= @ 0.02475000 TP6= @ 0.03011000 TP7= Free
BLong
by ForecastCity
6