December 06 2018 19:01 UTC


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.


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Price Action



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:

























$BCHSV Price Change
period%$
24 hours11.77$10.36
7 days-2.95$-2.99
1 month0.00$0

Trend


trend is MIXED



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.]



Chart


Tap / click to zoom:





chart-bchsv-usdt-15minutecandles-2018-12-06


Remarks



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.



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Technicals


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)



















periodaverage
7 day$100.31
25 day$98.93
99 day$93.58

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




bullish



  • 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



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Resistance levels: $103.50 $106.20 $111.62



Support levels: $97.00 $88.70 $84.01



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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.



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Disclosure


The author does not hold Bitcoin SV $BCHSV at the time of writing.


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