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Hive (HIVE / USD) Bullish Hammer - Change Trend?

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@criptoar
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Hive price marks a Hammer Candle, are we in the bounce zone?

Let's see

Candle Analysis

Hammer candles generally occur in trend changes.

But for it to be validated we should see the next candles, which close above the close of the hammer candle.

Yesterday's candle closes in indecision and today's candle, at this time, is with an upward trend

If we continue today and tomorrow, closing above the previous one, it could validate the hammer candle and start an upward rebound in price.

Cycle Analysis

We've already seen two full cycles of elliot waves to the downside and Hive could be finishing its third correction cycle.

We can identify 5 downward waves that brought the price to $ 0.13.

Conclusion

We should see in the coming days and weeks validate these prices as supports to start thinking about a price recovery

But be careful.

The dominance of Bitcon is key, in the face of a rapid increase in the price of Bitcoin, it can trigger an increase in the dominance and reduce the price of Alcoins (investors take liquidity from Alcoins to increase the price of Bitcoin)

We are in key days of a definition of the price of bitcoin, they are key days, we must be attentive to Bitcoin and the announcements.

What you think?

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The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss.

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READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are. Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment. If you make exchanges or investments after reading this publication, it is entirely at your own risk. I am not responsible for any of your gains or losses. By reading this publication, you acknowledge and agree that you will never hold me liable for any of your profits or losses.

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