BCH SV Daily Analysis: Re-test of Resistance Trendline
What do the charts say?
- BCH SV or SV has tested the incline trendline three times over the past weekend – refusing to break through it.
- Nouvive Intelligence indicates that there is rising market sentiment and increased trades on SV.
- Accumulation continues, reaching near its all time high.
- A refusal to jump from current levels with a reversal, allows the RSI Stochastic to indicate that there is still more room to go.
- Volume is currently constrained and restricted – indicating that a large volatile move will occur shortly.
- A break-down from current levels or $97.10 would see SV fall to $94.81 to fill the gaps at that level before seeking a reversal similarly to the 9th December 2018.
Nouvive Says: SV looks bullish from current levels – giving the indicating that we will see today that the trendline at $102 is re-tested for the third time. There will be a breakout to $112-116 during the course of the week based on investor sentiment, increased trades and increased accumulation.
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