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- Bitcoin SV enters a bullish cycle, signaling potential for a new ATH with strong technical indicators.
- Analysts highlight a transformative rally for Bitcoin SV, supported by reclaimed support levels and promising chart patterns.
Bitcoin SV (BSV) has a chance of a strong bullish cycle, as noted by famous crypto analyst Alan Santana on TradingView.
Santana notes that starting from its bottom in April 2019, BSV’s past bull market ran 721 days. The analyst now thinks BSV has started a new bullish phase, which would prepare the ground for perhaps an all-time high (ATH) not too far off.
According to Santana’s analysis, the last top of BSV came in April 2021, thus ending its bull market and bringing it into a bear phase. As predicted, the bear market suffered notable falls leading to an all-time low (ATL) in June 2023.
The pivotal turning point came in December 2023 when BSV recovered its long-term support level from April 2019, which had been lost in October 2022. This reclaiming marked a return to bullish territory, reinforced by later corrections in 2024 setting new lows.
BSV: Bullish Momentum and Potential Surge Ahead
BSV is displaying really significant bullish momentum right now. Santana’s chart analysis reveals a clear weekly candlestick pattern with a lengthy lower wick and a complete green body, therefore indicating ultra-bullish market circumstances.
As the crypto gets ready for a protracted surge, the analyst underlines that the current configuration places BSV for explosive development, maybe within days.
Although the direction of the bull market is hard to forecast, Santana anticipates a new ATH of $800 in 2025, thereby translating to a 12x increase from current prices. Should market conditions get quite optimistic, he sees the ATH around $1,290, reflecting a 20x rise.
Meanwhile, BSV is swapped hands at about $54.54 at the time of writing, corrected 4.22% over the last 24 hours and by 18.00% over the last 30 days. Long-term predictions are bright even with this temporary downturn.
