Crypto Analysis | Hive 12-14 cents... and a strong rebound!
Good day Hiveians!
Join me in analyzing the crypto markets!
Yesterday we had a look at BTC/USD(T) which already anticipated the decline we are seeing in the markets today. This downward trend will, however, also translate to other cryptos as well - especialy Hive. Disproportionally so, Hive has declined today by a strong 12% while BTC only declined by about 3%. Unfortunately this will translate to even higher losses if BTC dips more (but will equally translate into higher gains too!).
Hive has been in a decline ever since it reached 1$. As I pointed out in the last post covering Hive, Hive moves in a specific fractal which hints at future price movements. You can see it here again circles in red (see last post for more details).
This fractal suggests a price movement to the 12-14 cent level. In this I higjhlighted two scenarios. They are mainly separated by their degrees of lows. The first scenario is more "bullish" in that it shows a low of 14 cents.
The other scenatrio (and I think more likely one) is the second one which suggests a price low of about 12 cents.
I strongly believe that price won't go lower than this. And I suspect that prices wil rebound strongly after this low (as the fractal would indicate). However, this will only happen once BTC changes back to a positive phase.
All of these levels are great buying opportunities!
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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