Bitcoin SV price $57 Key BSV resistance levels $71, $84 Key BSV support levels $40, $30

*Price at the time of writing

Bitcoin SV long-term price prediction: Bearish

Looking at the long-term perspective, Bitcoin SV has remained bearish since mid-December 2018 with a subdued market. On April 2, BSV managed to stay above the important 50-day moving average (blue line), erecting a bullish engulfing candle above the 0.382 fib. level which is priced at $72.

Buy/Sell Bitcoin SV

The next daily candle formation appeared with inverted pin bars after testing $96, signaling a strong price rejection at the horizon of the 0.5 fib. level of $85 before making headway to the 0.382 fib. level at $72. While sitting on the blue line for three days, yesterday, a bearish surge sent the price to the February low of $56, where the 0.236 fib. level lies.

A successful breach at the February low could drive BSV into the red zone of the Fibonacci Retracement level. If such a scenario occurs, BSV may slip all the way to $30. Currently, the daily RSI indicator is leveled at the overbought line.

Bitcoin SV medium-term price prediction: Bearish

As the major 50-day moving average (blue line) plays horizontally, BSV appeared subdued with choppy price action for a long period before seeing a slight upside move earlier this month. After reaching a price rejection level at $96, the coin eventually resumed the bearish scenario which is now below $$60. A slope move is revealed on the blue line above the price action.

On the 4-hour RSI, a converging downward direction is revealed as this pair trades in the oversold zone. A clear cross above the red trend line may set a positive move for Bitcoin SV, testing $70, where the yellow trend line rest. With a further push above the trend line and the blue line, a high wave may position the price at the previous resistance level of $96.

Following the current market trend, the next downside rally is likely at $40 and below.

Bitcoin SV medium-term price prediction: Bearish

Although Bitcoin SV is following a bearish scenario, the trade is yet to witness a significantly active session for a long period. The 50-day moving average (blue line) slopes along with the market trend. In fact, the selling momentum remains involatile. Still, the sellers are aiming at a close support level at $40.

In case the buyers managed to break up the 50- MA line, the immediate resistance for a positive move would be at $82 and above. After being convincingly positioned in the oversold area, the hourly RSI is now revealed at the horizon of the oversold line for the past three hours. A swing to the overbought area may trigger a positive period for the BSV market.

At the moment, the blue line acts as a defensive line for the bears.

Latest Bitcoin SV news

Yesterday's strong bearish move in the Bitcoin SV market came shortly after the Binance cryptocurrency exchange announced that it will delist BSV on April 22. Shapeshift also delisted BSV shortly after Binance's announcement and Kraken appears to be considering a delisting as well.

These delistings appear to be a response to legal threats made by Craig Wright against several of his critics. Craig Wright is known in the cryptocurrency space for his controversial claims of being Satoshi Nakamoto (the inventor of Bitcoin) and supporting the Bitcoin SV project.