296 Interactions, 6 today
Bitcoin SV attempted to smash through the $218 resistance barrier once more, with the same noting buyer interest on its rebound from $185. On the contrary, the charts of Dogecoin and Waves indicated that certain bearish feelings might emerge in the coming days.
Bitcoin SV [BSV]
For the last three weeks, the $218 level of resistance has stubbornly defied BSV’s efforts to ascend north. However, the most recent effort may have shown some promising effects.
Since the previous rejection at this resistance, the OBV has been on a steady uptrend, showing that, unlike previous attempts, this rally has considerable demand pushing it higher. At the time of publication, the RSI was reading 67.
Any buy orders may be filled in the $208-$218 range, with a conservative stop-loss of under $200. In a move that could take a few days, the $237 and $257 thresholds would be take-profit levels for BSV.
In the near past, Dogecoin did not have a high trade rate. The 20-period EMA (white) was heading below the 50-period EMA (yellow), suggesting that momentum has recently benefited the bears.
The Directional Movement Index shows the ADX (yellow) on the verge of breaking through 20, with the -DI still breaking through. This rise would confirm the existence of a strong bearish trend, and a move to $0.049 would become more plausible.
WAVES fell below the ascending trendline support (orange) on the 4-hour scale, even as the Chaikin Money Flow indicator threatened to fall below the -0.05 level. This will imply nett capital outflows from the industry, indicating seller domination.
The Fibonacci retracement levels (shown in white) should work as encouragement, but short-term momentum seemed to have changed in favour of the bears. The Awesome Oscillator plunged below the zero axis. A retest of the previous accumulation highs of $10.45 is likely. In any case, it will be a smart time to enter a long stance with a target price of $12.45.