Hive Showing Positive Upturn Against A Surging BTC
Hive is showing a nice repeated bounce off support at around 1,340 satoshis. With more than five days of green candles in a row, we're showing strength against a surging BTC which is great news.
With a current price of 1,530 satoshis, we really need to push through resistance at 1,540 before moving up to smash through 1,560. Although, having said that, the latest candle is showing a worrying bearish pinhead right now, having spiked upwards, which hopefully reverses into a full green candle by the end of the day!
My sense though is that BTC will start to motor again over the coming days which will likely leave the alts (inc Hive) floundering slightly. For a while...
As you can see above, Bitcoin dominance has bounced off support and is currently showing a very strong enveloping green candle which looks bullish. On this basis, we might expect to see BTC show its increased dominance over the next few days and weeks.
It's great to see some action in the markets again after over a year in the wilderness.
And it will be great to see how Hive performs if and when the bull market really takes a hold...
None of this is financial advice!
Hmmm
This is a good move for Hive.
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