Satoshi Nakamoto Blog
Image default
Bitcoin Cash Bitcoin Cash (BCH) Coin Updates Cryptocurrency NEWS Price Analysis Charts

Bitcoin SV (BSV) Daily Price Forecast – February 12


BSV/USD Medium-term Trend: Ranging

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

BSVUSD continues in a range-bound market in its medium-term outlook. $65.98 in the supply area was the high of the day while $63.66 is the low of the day in the range. The bearish pressure was strong and with the formation of a bearish marubozu candle as the session ended yesterday.

The 4-hour opening candle at $63.81 is bearish, this sustained the momentum the cryptocurrency had dropped to $63.09 after today’s opening.

Price is below the two EMAs and the stochastic oscillator signal points down at 23%. This suggests a downward momentum in price of the cryptocurrency in the within the range may occur.

BSVUSD is in consolidation and trading between $68.00 in the upper supply area and at $60.00 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 taking.

BSV/USD Short-term Trend: Bearish

The cryptocurrency remains in a bearish trend in its short-term outlook. The rejection at the key supply area at $65.98 was expected. Each touch of price at this area result in a bounce.

With the bears in full control, BSVUSD dropped to $63.09 in the demand area shortly after today’s opening.

Momentum to the downside is obvious with price below the two EMAs and the stochastic oscillator signal pointing down at 8% in the oversold region. $61 in the demand area remains the bears target in the short-term.




The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

Source link

Related posts

Facebook’s Libra Blockchain Runs in Testnet; Only Founding Members Can Produce Blocks


Chinese IoT Technology Firm SUNMI to Incorporate NEXT Sensors into POS Terminals


Facebook Cryptocurrency Shows Path Forward is Integration, Not Domination


Maltese Crypto Businesses Eyeing Estonia and Swiss


Is the crypto community truly moving towards decentralization? Or is it just a pipe dream? |


Bitcoin the top investment for Grayscale in the first quarter |