The two main forks of BTC (Bitcoin Cash and Bitcoin SV) are jumping with force upwards. Where are these cryptosystems heading?
Finally we are seeing almost all the major cryptosystems generating profits. Yesterday’s top performers were Bitcoin SV with a daily gain of 63.46% and Bitcoin Cash with a 38.16% gain.
It seems more and more likely that an altseason is beginning, driven by a Bitcoin Millionaire totally full of euphoria infecting its peers, and gains that are starting to look for kinder ground for the short term.
Several analysts indicate that the time has come for a BTC correction, which would result in capital flowing into other cryptosystems. Perhaps the next setback will not be so deep, perhaps so alone in a brief fall to continue rising.
Either way, it is quite clear how unhealthy the parabolic surge is being, and investors will be increasingly cautious.
Here’s a brief review of the behavior of Bitcoin Cash and Bitcoin SV, to predict what might happen in the near future.
Analyst Expects Bitcoin to Correct 50% Soon
Bitcoin Cash meets resistance $639.05
There is no doubt that BCH is behaving very well, leaving behind the period of consolidation in which it was locked up for more than 2 years.
Now the price is showing clear upward signals for the medium term, following the behavior of the ecosystem in general.
After yesterday’s jump the immediate resistance located at $494.59 was effectively broken through. Now the price is being hampered by a barrier at $639.05.
The current behavior tells us of a possible exhaustion, but so far there is not much to indicate that the momentum will end soon.
Now is a good time to make a brief correction, a move that thanks to the previous trend will only motivate new purchases.
After Bitcoin Cash hits $639.05, the next target will be $829.28.
What does the implied volatility difference between Ethereum and Bitcoin indicate?
BSV leaves strong upside rejection
After an explosive jump that generated up to 80% of profits yesterday, today the price of BSV has made a significant correction, leaving a strong rejection fuse on the neighboring residential area at $295.18.
Despite the drop it’s showing today, even Bitcoin SV shows a good short-term scenario, thanks to the effective break of the immediate resistances that were hindering it.
As long as BSV doesn’t eliminate all or most of this week’s gains, the price should be making a correction to continue its upward intent. If this happens, the next goal is to reach a new all-time high.
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