Can Bitcoin SV Continue Growing After 474%? @alanmasters

8 feb 2020

Bitcoin SV (BSVBTC) went on a great run that started in late September 2019 and peaked this past 14-January, this wave hit 474% from bottom to top... Can Bitcoin SV go higher?

Previous charts with bullish wave | Nov 23, 2019

Jan 4, 2020

Normally, we would expect a retrace after a strong bullish move, and a retrace here can surely happen but, we are having some signals that are pointing to additional growth without much retrace... Let's take a look at those:

• Prices moved back above EMA10 after a strong rejection on the 3-Feb.
  
• Volume is really low on the drop.
  
• MACD and RSI curving strong.
  
• Higher lows being printed.
  
• Warning, these signals not necessarily mean that BSVBTC will continue straight up, but that there is the possibility of this happening...
  

Conditions for change
The main support for this whole structure is sitting at 0.02733431, if this level breaks the above signals become invalid.

There is also the chance we see a lower high or double top and then a retrace can take place... So far, BSVBTC is holding strong and has the possibility to continue growing right away.

What will it be?
That is for the market to decide, we trade based on what is happening and not on what might happen next.

Thanks a lot for your continued support... I am always grateful to you.

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Namaste.