Bitcoin SV recently dropped out of the descending wedge pattern. The support established at $106 has been essential to the recovery towards $110. Bitcoin SV (BSV) was among the assets that corrected positively on Tuesday. However, that momentum fizzled out shy of the descending channel support that had been broken down following the losses on Friday, the weekend and Monday. Although the losses aimed for $100, a low was formed at $106, which gave way for the shallow correction. At the time of writing, BSV/USD is trading at $109.65 amid low trading activity. The bulls must push above $110 in the near-term and fight to secure the descending channel support. However, the reversal will not be rapidly based on the widening gap between the 50 SMA and the 100 SMA on the 4-hour chart. On the other hand, the current momentum is still in the hands of the bulls. The RSI is grinding out of the oversold. However, breaking the lower high pattern formed by the RSI in the last few weeks will help to improve the technical picture and increase the investors’ confidence. BSV/USD 4-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next UK election debate: Common ground that UK austerity is over – Rabobank FX Street 3 years Bitcoin SV recently dropped out of the descending wedge pattern. The support established at $106 has been essential to the recovery towards $110. Bitcoin SV (BSV) was among the assets that corrected positively on Tuesday. However, that momentum fizzled out shy of the descending channel support that had been broken down following the losses on Friday, the weekend and Monday. Although the losses aimed for $100, a low was formed at $106, which gave way for the shallow correction. At the time of writing, BSV/USD is trading at $109.65 amid low trading activity. The bulls must push above $110 in… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
