- Bitcoin SV spikes incredibly amidst broad-based gains in the crypto market.
- Support must be established above $200 to ensure that comeback back into the $100 range is avoided.
Bitcoin SV is arguably the most improved cryptocurrency this week. Although the entire market is generally bullish, BSV is up 25% in less than 24 hours compared to Bitcoin’s 4.4% and Ethereum’s 3.24%.
The 4-hour chart shows the price trading above the moving averages since the break past $100 in the first week of January. Other resistance zones that have given way to the bullish magic are $120, $140, $160 and $200.
Bitcoin SV is dancing at $205 and could hit higher levels based on the existing technical and fundamental picture. The RSI is leveling within the overbought while the MACD’s bullish cross continues to increase. All these technicals working hand in hand; will be the key ingredients that send BSV towards $220.
BSV/USD 4-hour chart
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