RATE Group | BSV/USD 10% mega bullish boost towers the crypto horizon
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BSV/USD 10% mega bullish boost towers the crypto horizon

03 Mar BSV/USD 10% mega bullish boost towers the crypto horizon

Posted at 10:36h in Bitcoin News by

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  • Bitcoin SV recovery stalls at $262 but the bulls focus on defending support at $250.
  • BSV/USD accumulation above $250 is likely to culminate in another surge towards the key $300 level.

Bitcoin SV is flying the bullish flag pattern high above the cryptocurrency landscape. The recovery was in tandem with Bitcoin (BTC) surge towards $9,000 on Monday. However, while Bitcoin succumbed to a correction, BSV has been able to consolidate the gains above $250.

At the time of writing, BSV is doddering at $252 amid a growing bearish grip. The upside is capped under $260 ahead of the resistance at the 50% Fibonacci level, of the last swing high at $460.667 to a swing low of $77.203. More resistance is anticipated at the 50-day SMA currently holding the ground at $293.022.

From a technical perspective, Bitcoin SV is bound to take on a sideways trend in the coming sessions. Indicators such as the RSI is horizontal at 50 after pulling upwards from lower levels around 30….

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