Bitcoin SV has gained 11.77% or $10.36 in twenty-four hours. In this Thursday Edition find $BCHSV price action, trend, technicals and more. Or jump right to the Bitcoin SV $BCHSV Price Outlook.
The price of $BCHSV has risen over twenty-four hours. The last price at press time is $98.35. In Binance light to moderate volume trading the daily change is 11.77%, or $10.36:
|$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 -quot;mixed-quot; 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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Binance first data for $BCHSV is on November 15 2018, less than a month ago. $BCHSV arose from the chain split of the originating chain Bitcoin Cash ($BCH or sometimes $BCC) which now is $BCHABC.
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.
[MACD is a trend-following momentum indicator]
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.
[EMA is a type of moving average that weights recent price fluctuations more, yielding a better short term signal]
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.
[The bitcoin price modifier reflects the historical correlation between the price of $BTC and altcoins]
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
Resistance levels: $103.50 $106.20 $111.62
Support levels: $97.00 $88.70 $84.01
Invalidation: This outlook is no longer valid if the asset has performed outside of its resistance or support levels, or outside of its short term analysis period.
The author does not hold Bitcoin SV $BCHSV at the time of writing.
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