From the chart: As you see I have two resistance levels on my 4h chart, first $187 and second $205. BSV made 2 attempts to break 1st resistance level so far and failed on both attempts. The first attempt was March 22nd and the latest yesterday. However, BSV is in ascending triangle approaching the end (with first resistance level), holding nicely above 21 MA. To me it is just a BEAR MARKET RALLY!
Breaking this triangle will follow with dramatic movement in price. As I stated previously, a downward break is more probable which will push the price down toward $150 and then $100-$110 region. We will see where it goes from there.
If you are a day/short term trader, it was a great opportunity to make money in this bear market rally.
This is just my opinion, not a trading advise!
Trade Wisely, Always Use Stop Loss & Stay Safe!!
MM
Please see my previous analysis for BSV/USD:
Breaking this triangle will follow with dramatic movement in price. As I stated previously, a downward break is more probable which will push the price down toward $150 and then $100-$110 region. We will see where it goes from there.
If you are a day/short term trader, it was a great opportunity to make money in this bear market rally.
This is just my opinion, not a trading advise!
Trade Wisely, Always Use Stop Loss & Stay Safe!!
MM
Please see my previous analysis for BSV/USD:
