Bitcoin SV (BSV) has broken out of the 50-day SMA ($195), which is a positive sign. The next target is $233.314 and above it $268.842, which are 50% and 61.8% Fibonacci retracement levels of the recent decline.
The moving averages are on the verge of a bullish crossover, which is another positive sign. If the BSV/USD pair climbs above $221, the stop loss on the long positions can be trailed higher to $165.
Our positive view will be invalidated if the buyers fail to hold on to the gains and the price turns around and drops below $166. A break below $146.96 will be a huge negative.