MontyMacht

Refueling at 390

Kort
BITFINEX:BSVUSD   None
For a quick intra-day trade, BSV seems to be running out of gas at the moment as OBV is consistently downwards and RSI needs to recharge at the bottom end. For this to happen, and based on the analysis of the Fib retracements as well as the trend lines. the prominent support looks to be at 390. Otherwise, the price would crawl slowly along the current resistance up to the next Fib retracement and then go downwards, but that's unlikely as there doesn't seem to be enough gas for this. Also, the highlighted area shows a similar situation to where we are now in which the price went down sharply for refueling the momentum.
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