BSV(Bitcoin Sh#t Version) 1st analysis on a true sh%t coin
No idea why anyone in the world would believe in this coin but it is crypto after all and so many sheep to pull the wool over their eyes it ain't funny.
As you can tell I am not a fan of pathological liars caught out so many times that they require a new lie to overcome the last one. That is the point of no return where you will defend your lies to the death or for money.
Anyway, sentiment aside let's talk pure analysis on Bitcoin SV(sh#t version).
As you can see there is a clear definition of resistance/support on the lime green trend lines shown. The lime green trend lines shows major support or resistance.
The 2 different Fibonacci retracement indicators shown are a larger and a smaller indicator. The larger fib level indicator at 0.618 shown by the red down arrow was hit and the market reacted to a downwards movement indicating a bearish movement.
BSV then bounced off the EMA 55 in yellow but is still currently trading under the EMA 10 in blue and MA 21 in orange on the daily chart shown by the green down arrow.
BSV needs to break the smaller Fibonacci retracement indicator level of 0.618 @ $332.86 to gain a bullish sentiment. BSV would also need to break the EMA 10 and the MA 21 it is currently trading under. If BSV breaks these it would then need to break the larger Fibonacci retracement level @ $368.63 to regain a move back to the $450 region.
The purple trend line is an indication of whether BSV will hold this smaller uptrend to regain traction. If BSV falls below this trendline then expect BSV to drop to the larger lime green trendline. If BSV breaks this level expect it to move further down to the EMA 55 in yellow and if BSV breaks this level a further drop to the red horizontal resistance level @ $175.00
Hopefully it drops to what it is worth.....1 cent, but more than likely it will move back up with the rest of the markets as there is a bullish sentiment throughout crypto currently.
Happy trading legends!
HTBB
Follow me on twitter or facebook if you like.
As you can tell I am not a fan of pathological liars caught out so many times that they require a new lie to overcome the last one. That is the point of no return where you will defend your lies to the death or for money.
Anyway, sentiment aside let's talk pure analysis on Bitcoin SV(sh#t version).
As you can see there is a clear definition of resistance/support on the lime green trend lines shown. The lime green trend lines shows major support or resistance.
The 2 different Fibonacci retracement indicators shown are a larger and a smaller indicator. The larger fib level indicator at 0.618 shown by the red down arrow was hit and the market reacted to a downwards movement indicating a bearish movement.
BSV then bounced off the EMA 55 in yellow but is still currently trading under the EMA 10 in blue and MA 21 in orange on the daily chart shown by the green down arrow.
BSV needs to break the smaller Fibonacci retracement indicator level of 0.618 @ $332.86 to gain a bullish sentiment. BSV would also need to break the EMA 10 and the MA 21 it is currently trading under. If BSV breaks these it would then need to break the larger Fibonacci retracement level @ $368.63 to regain a move back to the $450 region.
The purple trend line is an indication of whether BSV will hold this smaller uptrend to regain traction. If BSV falls below this trendline then expect BSV to drop to the larger lime green trendline. If BSV breaks this level expect it to move further down to the EMA 55 in yellow and if BSV breaks this level a further drop to the red horizontal resistance level @ $175.00
Hopefully it drops to what it is worth.....1 cent, but more than likely it will move back up with the rest of the markets as there is a bullish sentiment throughout crypto currently.
Happy trading legends!
HTBB
Follow me on twitter or facebook if you like.
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