Bitcoin and altcoins are at risk of a deeper correction if they do not rise above their immediate resistance levels soon.
Bitcoin SV News
Bitcoin Satoshi’s Vision (BSV) is the result of a November 2018 hard fork of the Bitcoin Cash blockchain, which itself is a hard fork of the original Bitcoin chain that took place in August 2017. This network claims to represent the purest form of Satoshi Nakamoto’s original vision of the Bitcoin protocol.
Bitcoin SV’s monetary policy is identical to Bitcoin Cash (BCH) and Bitcoin (BTC), with the same block times, block rewards and supply cap, but it differs from both in notable ways. Like Bitcoin Cash, Bitcoin SV’s scalability solutions center on increasing the block size, which allows more transaction throughput while sacrificing accessibility to the mining economy through an even heavier computational load. The Bitcoin SV fork from Bitcoin Cash was the result of a debate within the Bitcoin Cash community on a set of improvement proposals to make transactions and on-chain operations more efficient.
Bitcoin SV’s development is led by nChain, a blockchain R&D company headed by Craig Wright, who notoriously claims to be Bitcoin inventor Satoshi Nakamoto.
The market has taken a bearish turn and Bitcoin and altcoins will need strong relief rallies in order to restore their uptrends.20471
Bitcoin and altcoins are facing selling near key resistance levels, but for now the possibility of a sharp fall remains low.19053
Bitcoin and a few altcoins have broken above key resistance levels, which suggests that the bulls are attempting to take control of the market.16967
Bitcoin and several altcoins are trying to break out of their respective overhead resistance levels in order to restore bullish momentum.15857
Although Bitcoin price is range-bound, a few altcoins have started a relief rally which could push them above key resistance levels.17383
If the bulls can find momentum from the current bounce in Bitcoin and altcoins a short-term bottom may be in place.20050
Bitcoin and altcoins could consolidate in a tight range for a few days before making the next decisive move.27624
A dead cat bounce from Bitcoin and altcoins’ critical support levels may attract further selling that could result in lower levels over the next few days.27962
If the bearish patterns on Bitcoin and altcoins complete the current correction could see prices drop to new lows.25329
Bitcoin and altcoins have bounced off their range lows, but they are likely to encounter resistance at higher levels.32235
Bitcoin and altcoins are holding key support levels, suggesting bulls will try to break above overhead resistance levels soon.24728
Bitcoin and altcoins are likely to remain range-bound in the short-term as the bulls and the bears attempt to assert their dominance.34205
The bulls are aggressively defending the 20-day EMA in Bitcoin and select altcoins, which could result in the resumption of the uptrend.28805
Bitcoin and several altcoins have formed bearish divergences, which suggests that the bullish momentum has weakened.35806