Bitcoin SV: Potential pull back.

8 thg 2, 2020

BSVUSD is consolidating after the aggressive run that led to a peak on January 14.

Levels to watch:

- The Resistance is at 457.500 while the Support at 76.500.
- Golden Cross took place right after the January 14 top. Last time this happened on a top (June 2019) it initiated an extended pull back to the 0.786 Fibonacci retracement level.
- The MACD is printing a similar pattern to June's 2019.
- 253.500 is the former Resistance and where the price found Support after the January 14 top.

Projection:

- This appears to be a cyclical pattern for BSV. Golden Cross marking the top of a bullish leg and then progressive decline first towards the 0.500 Fibonacci and then a bottom on the 0.786 level. If however the 457.500 Resistance breaks, then this pattern is void and we can see new highs.


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