Dear Hive Fellows,
The recent bitcoin movement has just spoiled the party of all hive members to see the price at $2. If bitcoin would have only stayed above $51,000, we would have seen hive price at $2. Anyways, this is why we all love bitcoin because of its unpredictable nature and volatility. It is still a good thing to but some more hive while it is at $1.50 now.
Look at this bitcoin chart and you will see it has just hit hard by the liquidity level marked at $52000 and this is the same level that I have mentioned in my last video
Hivelog # 01 | Is Bitcoin Going to Make New ATH ? My Technical Opinion where I mentioned that it is very important for bitcoin to break this level with good green candle. This has not happened unfortunately so we have to look ahead and see what will be the effect and what can be done now.
$2 Hive Party is Spoiled
This Bitcoin move has definitely affected Hive price which was sailing smoothly to hit $2 but now has tanked to $1.50. This was mentioned in my recent hivelog where I mentioned that we can have the Hive price to hit $3 as well if bitcoin does not make any bad move.
Hivelog # 02 | We Can See Hive Price at $3 and It can happen very Soon
To conclude my Hivelog, I would say that all the technical charts from Daily to 1 hour are indicating bullish momentum and hive price can reach $3 easily. It can make new ATH as well but it will take some Bulls to knock over the Bears which will be waiting at $3 mark. I know that we all are very optimistic about Hive creating new ATH but we have to depend on Bitcoin as well because it is very important that bitcoin keep the momentum up. If we don't see any dump in Bitcoin, then we are definitely gonna have some good moves in next month.
It has happened and now we have to wait for another Bullish move on Bitcoin to see Hive journey towards $2 and $3 or $5.
What Can We Do Now?
Now the question is what can we do now? We simply cannot just sit and say of bitcoin has ruined it. I personally see this dump as opportunity to buy more hive because it is again in accumulation zone.
Bitcoin is still in range of $45000 to $52000 and we can see the price is approaching the lower liquidity level and I am expecting the price to bounce from this liquidity level and go up again. That will be the time to buy even more bitcoin and hive as well.
There is no doubt that this bitcoin move is disappointing and it has ruined our Hive $2 party but we have to live with it. Market does not move according to our wishes and we have to adjust according to market movements. As a professional trader, I would be looking for next probable setup that charts will be showing me and then take my decisions. Ideally, I want Bitcoin to go a bit more down to take the liquidity and stop hunt below $45,000 and make a sharp reversal with typical pinbar pattern on H4 chart. That will be my major buy on hive to accumulate more and it will make me profit in 2022.
Disclaimer
This is not a financial advice because trading is all about the probabilities and this hivelog should be taken as educational insights into Crypto Market.
