It is a failed pump attempt that happened in Jan, where I am not surprised because the manipulator didn't follow the original fractal pattern by dropping BSV to the $100 zone first along with the BTC retracement and then making a single but huge pump.
And now there are few things changed: 1. The upward breakout is valid, even if the pump attempt failed, which...
The most volatile months could be April and July when the triangles are closing, but there is not enough time for BSV to pump twice historical-patterned retracement, as the entire crypto market bull run may end Dec'21. So I would expect a dump in Apr'21 and then a pump without big retracement starting Jul'21. I strongly believe the drop is the key to kill all...
Short term support around $150, so a small long entry could be set between $150-$155, SL $142, TG $185-$190, finger crossed.
As the triangle is converging, less fluctuation is expected, and a downward breaking could happen anytime soon, so be careful.
The short term support around $150 has been tested twice, and usually it breaks down the third time. In addition, there is a clear head and shoulder pattern formed since Mar'20 under a long term descending trend line. Historically, there was another head and shoulder pattern for BSV in 2019, and the chart tells the story of what happened in Apr'19.
I know...
The long term trend for BSV is moving down since Jan'20, and its most recent high is around 217, so the best short position for BSV is around 203-208 when it is about to touch the trend line again, targeting 155, just slightly above the supporting trendline.
