Bitcoin SV is rising faster than its ‘father’ Bitcoin. Our price analysis explains whether it is the start of a new trend or just an accident
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While most of the top 10 coins are falling against BTC, Bitcoin SV is showing 0.5%. Traders are looking for high volatile coins, while Bitcoin is trading sideways. In this regard, only the rates of LTC and BSV are going up in correlation to the leading cryptocurrency.
Top cryptocurrency by CoinMarketCap
Let’s have a look at the price chart.
BSV/BTC chart by TradingView
On the 1H chart, Bitcoin SV has been bullish since July 15, and buyers are going to dominate until the end of July. Regarding the technical indicators, the lines of MACD are looking upward, confirming the further price rise.
BSV/BTC chart by TradingView
On the bigger time frame, Bitcoin SV is located under a bearish mood, and the current level is not the bottom. BSV is about to form the Head and Shoulders pattern and the coin might fall to the support at 0.0085 BTC. The declining trading volume confirms the upcoming decrease of the coin.
The price of BSV is trading at 0.01327 BTC at the time of writing.
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Denys Serhiichuk
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at [email protected]
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