In the last 24 hours, Bitcoin Satoshi Vision ( BSV Crypto ) has grown by nearly 10%. This comes after Coingate announced it will be supporting BSV as another native cryptocurrency.
This would now allow merchants signed up with Coingate to accept BSV as a payment option for their product or service, greatly improving the utility of the coin.
Merchants accepting BSV Crypto can choose to exchange it to any other cryptocurrency supported by Coingate. They also have the option to directly buy or sell BSV from Coingate utilizing multiple payment channels.
As a result of the announcement, BSV markets reacted positively despite the overall trend of falling prices yesterday. A Fibonacci Bollinger Band analysis shows the key points where the trend line break entry coincides with the announcement.
BSV Crypto Graph by TradingViews.com
The indicators show us the upper and lower bands of volatility which is measured using Wilder’s Average True Range (Wilder ATR).
The Bollinger bands in the chart are overlayed on Fractal Support Resistance (FSR) levels to showcase the breakouts.
Wilder’s ATR does not provide a price trend indicator nor does it provide accurate breakout indicators but it does show us accurate levels of the price volatility degree.
Whether or not Bitcoin SV will continue to hold up in this particularly volatile period remains to be seen.
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Image Credits: TradingView
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