Bitcoin SV (BSV) has broken above the 20-day EMA but the bulls are facing resistance at $185.87. If this level is scaled, the next resistance is likely to be the 50-day SMA at $208 but we expect the level to be crossed.
Above this level, the BSV/USD pair is likely to pick up momentum and the up move can extend to $260.
Contrary to our assumption, if the price turns down from the current levels or the 50-day SMA and plummets below $146.96, a drop to $120 is possible. For now, the stops on the long positions can be retained at $146.