Bitcoin SV $BCHSV Price Outlook: Bullish
|$BCHSV Price Change|
The Bitcoin SV weekly trend is mixed. The previous weekly trend downwards has been broken with today’s surge upwards, and a new higher daily high has been recorded. A new pattern is forming. The pattern is currently bouyant.
Today’s volume is light to moderate compared to typical daily volume over the last several weeks.
[Trend is "mixed" when the weekly contains both green and red daily price candles, price movement up or down is significant, and there is no clear weekly price direction.]
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In general ICO’s are very risky and have a poor track record. Asset chain splits such as $BCHSV may be risky too. When $BCH split from $BTC the result was a child price which was a fraction of the pre split parent price.
Today we are witnessing upwards volatility of the $BCHSV child.
Moving Average Convergence Divergence (MACD)
The MACD on the fifteen minute chart is bearish.
Exponential Moving Averages (EMA)
It isn’t clear where the long term 99 day EMA data is coming from because the asset is less than a month old. On the hourly chart both the short and medium term indicators are pointed upwards, which is a bullish sign.
Relative Strength Index (RSI)
The Relative Strength Index on the one hour chart is 66.3. This is a neutral state.
The RSI in the fifteen minute period – and right through to the six hour period – is in a neutral state.
The one hour RSI has recently come down from an oversold state, and is sloping upwards.
[RSI is is a momentum indicator that measures the magnitude of recent price fluctuations to determine an overbought or oversold state]
Bitcoin Price Modifier
The 24 hour Bitcoin change is -3.57%. This may exert a bearish influence on Bitcoin SV today.
Bitcoin SV $BCHSV Price Outlook
- the Bitcoin SV $BCHSV price outlook is bullish
- if the price finds acceptance at higher levels the immediate resistance prints at $103.50
- if the price finds acceptance at lower levels the immediate support prints at $97.00
The author does not hold Bitcoin SV $BCHSV at the time of writing.
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