This has been insane upward pressure today, telling me that maybe the selling of BTC is going into BSV. I was waiting for that flag to break, and boyyy did it! If the descending blue line is indeed a neckline, 1:1 gain gives me a HIGH estimate top around $180.
Bitcoin Cash SV (BSVUSD) Seems to have completed its retrace. You can see the support/demand zone in yellow. This area can be used as support if price breaks down. If this area holds as support, you can expect a bounce up, but if it breaks you can expect the price to continue going down. For this reason, we use a candlestick close below this area as our stop loss. Meaning, if a candlestick closes, 4 hours per candle on this time frame/ example, below the "support/demand zone" (74.0), then we close the trade. This would be our stop loss. Here is a full trade for Bitcoin Cash SV (BSV) versus the dollar (USD). Trade Instructions for BSVUSD by Alan Masters Trades Buy: 77.1 - 79.3 Next support: 74.6 Targets: (1) 81.7 (2) 86.6 (3) 89.5 Stop loss: Close daily below 74.0. Capital allocation: <10%. THE WIN IS HERE Waiting for long with compromises to attend. Running, running, rushing and working, determined... thinking wildly... "One day hard work will pay". So you keep going on... YES, KEEP GOING! YOU CAN DO THIS! YES I CAN! The path become clearer... The clouds are no longer gray. The sun is shinning. The weather is great. Hard work pays off... The win is here again. Now it gets fun, no more hard work... It is time to get paid. Please support Alan Masters... Namaste.
One of our great supporters asked me to take a look at the BSVUSD chart. We already have an analysis with targets for BCHSVBTC. You can find it here: https://www.tradingview.com/chart/BCHSVBTC/lX5q5Y5I-Bitcoin-Cash-SV-Reaches-Support-Might-Bounce-Analysis/ BSVUSD Chart Analysis We are looking at the 4H Time Frame, which means that each candlestick represents a period of 4 hours. We have a strong breakout above EMA10 that reached all the way to EMA50. Now, this candle is still open but closes in only a few minutes. A close above EMA10, with high volume, can signal additional bullish action. And this is exactly what this chart is saying. The RSI has gone through the RSI and it is now bullish. MACD bullish crossover. Targets are marked purple on chart. A break and close below the red "x" on the chart would mean that this analysis is invalid and BSVUSD can become bearish. Meaning, this can be used as your stop loss. For any questions use the comments section below. If I receive 100 likes, I will post all trade details for this chart above (buy in, targets, stop loss and capital allocation). Thanks in advance for your support. Namaste.