BSVUSDT Trading Sideways but Slightly Bearish, Chart Mapped

5 בינו׳ 2021

I was asked to look at BSVUSDT, here is the chart.

This pair has been range-trading for a while, it is going sideways.

The yellow space keeps things sideways.

Above the first dashed magenta line, the bulls gain full control and additional bullish action is possible.

Below the first blue dashed low, the bears have the upper hand.

Right now prices are trading below all EMAs, including EMA10 and we also have a bearish candle yesterday, signaling that the bears are trying to jump in.

For the outlook to change from bearish to bullish, we would need to see BSVUSDT move above all the moving average lines, that would be the first strong signal... As long as prices remain below these (EMA10, EMA21, EMA50, MA200, etc.), we look for lower prices.

This is not financial advice.

Thanks a lot for reading.

Namaste.