BSV/BTC: Announced Hard Fork as the Reason for a Bull Run?
After having traded sideways for around one month, the rate of Bitcoin SV has struck the roof, rising by almost 50%. As a result of the growth, BSV has rushed into the list of the top 10 coins and now located on the 9th place.
The rise has happened unexpectedly from the perspective of technical analysis. On the 4H chart, the indicators are showing oversold of the coin. Currently, one should pay attention to two support areas at 0.014 BTC and 0.013 BTC respectively. If Bitcoin SV breaks the first one, it will move to the second one shortly.
Summing up, the short-term forecast is bearish and the decline will continue until mid-November. It is difficult to predict the long-term scenario as the rate of BSV depends upon the price movements of the leading crypto.
The rise has happened unexpectedly from the perspective of technical analysis. On the 4H chart, the indicators are showing oversold of the coin. Currently, one should pay attention to two support areas at 0.014 BTC and 0.013 BTC respectively. If Bitcoin SV breaks the first one, it will move to the second one shortly.
Summing up, the short-term forecast is bearish and the decline will continue until mid-November. It is difficult to predict the long-term scenario as the rate of BSV depends upon the price movements of the leading crypto.
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