Bitcoin SV Cryptocurrency Forecast
A very strong day for Bitcoin SV cryptocurrency price on Friday
(Updated on May 03, 2024)
The Bitcoin SV cryptocurrency price gained 5.86% on the last trading day (Friday, 3rd May 2024), rising from $59.39 to $62.87. During the last trading day the cryptocurrency fluctuated 8.49% from a day low at $57.96 to a day high of $62.87. The price has fallen in 6 of the last 10 days and is down by -12.8% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 million more shares were traded than the day before. In total, 53 million shares were bought and sold for approximately $3.33 billion.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $57.91 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -10.24% during the next 3 months and, with a 90% probability hold a price between $51.98 and $96.61 at the end of this 3-month period.
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BSVUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 8.06%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bitcoin SV cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $77.47. On a fall, the cryptocurrency will find some support from the short-term average at $62.71. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Bitcoin SV cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $59.39 and $59.06. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, Bitcoin SV finds support just below today's level at $59.39. If this is broken, then the next support from accumulated volume will be at $59.06 and $58.18.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $4.92 between high and low, or 8.49%. For the last week, the cryptocurrency has had daily average volatility of 7.76%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BSVUSD) For The Upcoming Trading Day Of Saturday 4th
For the upcoming trading day on Saturday, 4th we expect Bitcoin SV to open at $61.23, and during the day (based on 14 day Average True Range), to move between $57.96 and $67.79, which gives a possible trading interval of +/-$4.91 (+/-7.81%) up or down from last closing price. If Bitcoin SV takes out the full calculated possible swing range there will be an estimated 15.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $59.39 (5.53%) than the resistance at $67.22 (6.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bitcoin SV cryptocurrency A Buy?
Bitcoin SV holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency.
Current score: -2.233 Sell Candidate Unchanged
Predicted Opening Price for Bitcoin SV of Saturday, May 4, 2024
| Fair opening price May 4, 2024 | Current price |
|---|---|
| $61.23 ( 2.61%) | $62.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BSVUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.15 | 5.21 % | |
| R2 | 64.27 | 2.23 % | ||
| R1 | 63.11 | 0.381 % | ||
| Current price: | 62.87 | |||
| Support | S1 | 59.36 | -5.60 % | |
| S2 | 58.19 | -7.44 % | ||
| S3 | 56.32 | -10.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 76.99 | 22.45 % | |
| R2 | 67.42 | 7.23 % | ||
| R1 | 67.22 | 6.91 % | ||
| Current price | 62.87 | |||
| Support | S1 | 59.39 | -5.53% | |
| S2 | 59.06 | -6.07% | ||
| S3 | 58.18 | -7.46% |
FAQ
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