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Bitcoin SV (BSV) Price Analysis for August 4

Price Predictions
Wed, 08/04/2021 - 17:59
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Denys Serhiichuk
Have the bulls abandoned Bitcoin SV (BSV)?
Bitcoin SV (BSV) Price Analysis for August 4
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Bulls are once again dominating the market, with all major coins remaining in the top 10.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BSV/USD

Bitcoin SV (BSV) could not follow the growth of top 10 coins. The price of BTC's fork has declined by 2.22 percent over the last 24 hours.

BSV/USD chart by TradingView
BSV/USD chart by TradingView

On the hourly chart, Bitcoin SV (BSV) has recorded a big candle accompanied by large trading volume. It means that the correction might be over in the mid-term, and bulls can keep the rise. In this regard, there is a chance of getting back to the $145 level, where most of liquidity is focused.

BSV/USD chart by TradingView
BSV/USD chart by TradingView

From the technical point of view, Cardano (ADA) has the potential to keep its uptrend intact after passing the zone of the most liquidity around $135. Furthermore, the growth is supported by the increasing trading volume. That is they, the level of $143 might be attained within the few days.

BSV/USD chart by TradingView
BSV/USD chart by TradingView

On the daily chart, Bitcoin SV (BSV) is located at a zone of liquidity of around $140. At the moment, neither bulls nor bears have seized the opportunity, which means that trading sideways in the range of $135-$145 is more likely until mid-August.

BSV is trading at $138 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.