BSV/USD daily chart

BSV/USD daily chart

Gate Trade Bitcoin SV (BSV) Saturday, May 16, 2020 1082 0

The bounce in Bitcoin SV (BSV) has stalled close to the 20-day EMA ($196). Both moving averages are flat and the RSI is just below the midpoint, which suggests a balance between supply and demand. If the price turns down from the 20-day EMA, a retest of $170 will be on the cards.

The BSV/USD pair is in a well-defined range. Hence, the best place to initiate a trade is to buy near the support and sell near the resistance. Another possibility could open up after the pair breaks out of the range, as it will indicate the possible start of a new trending move. Until then, traders should trade with caution