Many would agree that Bitcoin SV (BSV) has disappointed many cryptoinvestors last year. However, according to crypto analysts, if you are lookingforward to a great return in a matter of 3 to 5 years, then BSV is worth thewatch from now on.

BSV is now among the best performing cryptos in the market. Itdelivered good market performances during the first weeks of January. In fact,it reached an 18% gain on January 15th, which resulted to a 53% upward duringthe second week of January.

On January 18th , despite a dip below the resistance levelof $255.62, the crypto asset still found a support level at $236. That supportlevel is close to the 61.8% Fib retracement area transfer from $77.203 to$458.74. So, it’s no surprise why the bulls are making an effort to resume theup move.

Is BSV Forming A Bullish Signal?

Lately, many crypto analysts have noticed that Bitcoin SV is forming abullish pattern. The said bullish pattern is seen with a short-term movingaverage that is near above the BSV’s long-term moving average.

Following the surge by a parabolic 50%, Bitcoin SV achieved themettle. So, from $77.2, it reached the $458.74 level, and that happened in lessthan a month.

According to the bulls, Craig Wright, who claims to be the BSVfounder, can possibly sell a portion of the allegedly BTC holdings in exchangefor Bitcoin SV. However, it was confirmed that Wright does not hold the privatekeys.

Despite that confirmation and a bit of bothering to the bulls, they remainsteadfast to pushing the Bitcoin SV into upside exhaustion. As a result of themove, the technicals of BSV has improved and then, formed a bullish pattern. Ifthe bulls can sustain it, then a further bullish signal will be enjoyed by theinvestors.

BSV’s Bullish Pattern Can Hold A Success Rate of 60% to 64%

The formation of a bullish signal or the so-called “Golden Cross”pattern holds a 60% to 64% success rate.

Although many have already expressed that the forming bullish patternis good news, some analysts have expressed that it’s not always the case.

According to crypto analyst Ian McMillan, a few of the most respectedcrypto technicians do not buy the hype. To him, the topic is interesting totalk about, but the BSV’s validity to be bullish is lacking in a ton of merit.

That being said, it’s still good to note that Bitcoin SV is performingwell in the crypto space. Not only that, many anticipating better performancesin the next few days, and the bulls will continue to build strength.

In the coming days, whether or not the controversies about the GoldenCross will remain, traders still have good hopes on BSV. Not only that, itseems that they are not fully affected by the confirmation that Wright fails topresent the private keys.