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BSV/USD Bearish
BSV is in a descending triangle pattern on the weekly chart.
The coin tends to respect basic, horizontal support and resistance, so I intend to swing trade this chart for accumulation over the next several months. A margin trader might be looking to short on any bounce up coming into the end of the descending triangle pattern.
The other thing to consider is BTC/USD Margin longs on Bitfinex are at All Time High, looking to long squeeze, which will likely push the all of the bitcoin-related markets to new lows for the new year.
The coin tends to respect basic, horizontal support and resistance, so I intend to swing trade this chart for accumulation over the next several months. A margin trader might be looking to short on any bounce up coming into the end of the descending triangle pattern.
The other thing to consider is BTC/USD Margin longs on Bitfinex are at All Time High, looking to long squeeze, which will likely push the all of the bitcoin-related markets to new lows for the new year.
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