There's been a nice little rally in BSV lately. But we're not buying it.
At present, the rally in BSV looks like nothing more than a retest of a horizontal congestion zone created by a prior low back in July. The area between 110- and 120 was also the area where the final down move unfolded in September. In an environment where Bitcoin ( BTC ) is having troubles, we don't see BSV having upside potential beyond 120.
Bottom Line: There would have to be a huge catalyst to get BSV above 120. We don't see it happening right now.
DISCLOSURE: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice. The Token Metrics team has invested and advised in many blockchain companies. A complete list of the team disclosures, advisory roles and current holdings can be viewed here: https://blog.tokenmetrics.com/disclosures/.