We have been watching HIVE for the last one week where it continuously made several good spikes above 10%. This is a strong sign that whale accumulation is still going on. Big players are buying HIVE at low prices and it seems they are trying to collect coins from retail traders at cheaper rates.
Today I did a detailed analysis on the 4H and 1H timeframe, and according to that HIVE currently looks almost 70% bullish. Based on this I made a trade setup that I also want to share with you guys.
If we check the 1H timeframe we can clearly see a tight consolidation phase. Small higher lows and higher highs are continuously forming while the price is holding above short term support which is usually considered a sign of breakout continuation. Overall, the market structure looks quite strong.
In my opinion the higher probability right now is for a bullish scenario and this could be a good trade setup...
📌 Entry Zone:
0.0615 — 0.0620
📌 Stop Loss:
0.0594
📌 Preferred Take Profit:
0.0680
Source
This level looks very important because wicks have already formed there before and there is a strong chance that the market will retest and absorb that liquidity again. The risk-to-reward ratio is almost 1:2.5 which looks like a clean and strong setup.
Now the main focus will be on the candle closing.
✅ If the 1H candle closes above 0.0638 then an aggressive breakout entry can be confirmed.
❌ But if the candle closes at 0.0590 or below then this trade setup becomes invalid and it would be better to cancel the trade.
The continuous wicks we are seeing on the chart indicate that big players are active and a sharp move can happen at any time. Right now the market is slightly bullish and we are expecting a bigger liquidity grab or a sharp impulse move.
This is only my personal analysis that I wanted to share with you friends.
I am not a financial advisor and everyone should take trades according to their own research and risk management.
I hope you guys will like this post and is interesting as well. If you find it informative then dont forget to give me a support. Share you reviews in the comment section below. Thank you all for your time reading the content.
REMEMBER: We should prepare for the unexpected and hope for the best. Life may not be easy, but you must do your best and leave the rest to God.
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