Bitcoin Satoshi's Vision (BSV) Intermediate

Like Bitcoin Cash, this report will be short. Just as in Bitcoin Cash, we see fiery battles over which is better: BSV or BTC. Mostly, these are arguments are about tech. But if you want to make money, you follow the market, not  developer. As respectful of developers a I am, their skill is not necessarily reading markets unless they also have trading skill. the BSV chart is by and large trendless. Like BCH it rallies and falls in three wave structures. Unlike BCH, it has no downside leaning, but also no upside leaning. And so the market has given BSV a 'meh' vote. While so far this makes BSV less risky than BCH, it doesn't endear itself to trading over BTC. To do so would be to give up immense opportunity cost. 

$192 is the local support which would confirm another three wave top. If it rallies to $911 we may be seeing red three. And, if it also see red V, we may have a long term bullish trend and I can project further degrees. Until then, any long term bullish view is speculative. 

BSVUSD - Primary Analysis - Jan-20 0907 AM (1 day)
BSVUSD - Primary Analysis - Jan-20 0907 AM (1 day)
Ryan Wilday hosts the Cryptocurrency Trading service on ElliottWaveTrader.net.