BSV: Uh...No.
There's been a nice little rally in BSV lately. But we're not buying it.
At present, the rally in BSV looks like nothing more than a retest of a horizontal congestion zone created by a prior low back in July. The area between 110- and 120 was also the area where the final down move unfolded in September. In an environment where Bitcoin (BTC) is having troubles, we don't see BSV having upside potential beyond 120.
Bottom Line: There would have to be a huge catalyst to get BSV above 120. We don't see it happening right now.
At present, the rally in BSV looks like nothing more than a retest of a horizontal congestion zone created by a prior low back in July. The area between 110- and 120 was also the area where the final down move unfolded in September. In an environment where Bitcoin (BTC) is having troubles, we don't see BSV having upside potential beyond 120.
Bottom Line: There would have to be a huge catalyst to get BSV above 120. We don't see it happening right now.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.