Bearish momentum persists — Bitcoin SV drops 8.84%

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Bitcoin SV drops 8.84% today

Highlights

BSV is trading firmly below key moving averages, reflecting persistent bearish pressure across all timeframes.
Momentum and trend indicators confirm strong sell signals with renewed downside risks after a sharp price drop of 8.84%.
BSV is likely to trade between $13.30 and $16.20 this week, with further declines more probable unless resistance at $15.82 is decisively broken.

Bearish momentum persists as technical indicators flag renewed selling

BSV remains under technical strain as it trades well below its SMA-20 ($15.16368), SMA-50 ($15.76212), and SMA-200 ($20.69186), reinforcing bearish trends across short-, medium-, and long-term timeframes. The Ichimoku Kijun on the daily chart marks immediate resistance at $15.82395, with additional upside capped by $16.20. Momentum indicators are negative: MACD signals a strong sell, ADX shows weak trend strength, and D1 RSI points downward. The Stoch RSI is in the overbought zone, suggesting risks of further downside following recent gains, while CCI is neutral. Bull/Bear Power (BBP) flags overbought intraday conditions, but persistent daily weakness and high volatility confirm active selling. The price is near today’s lower range, and oscillators present a divergence between short-term exhaustion and renewed seller control.

Sideways outlook as downside risk surpasses recovery odds

Over the next five trading days, BSV is expected to move within a typical volatility band between $13.30 and $16.20. The chance of upward movement is low, estimated at less than 20%, so additional declines are more likely. Baseline expectations point to sideways trading in this range, with any breach below $13.30 potentially accelerating bearish momentum and exposing BSV to new lows, while a break above $15.82 could target $16.20.

Viktoras Karapetjanc, analyst at Traders Union, sees BSV extending its bearish momentum as technicals remain weak. He notes that the lack of new developments keeps sentiment negative and the downside scenario dominant. The price struggles to break above resistance and sellers clearly control intraday action. Karapetjanc remains constructive that support near $13.30 provides tactical opportunity for patient buyers, should broader markets stabilize. "If BSV can hold above $13.30 amid high volatility, a rebound toward $15.82 is possible, but the window for upside remains narrow in the short term."

Previously it was reported that Bitcoin SV is experiencing strong short- and medium-term bullish momentum, with the price trading above both the 20- and 50-day simple moving averages, but remains in a broader downtrend below the 200-day average. While immediate resistance is seen near $16.80 and initial support aligns with the Ichimoku kijun at $15.82, mixed momentum indicators and overbought oscillator readings highlight uncertainty over the sustainability of the current rally.

Source of Data: BSV Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.