After the recent severe Bitcoin crash, we are seeing some stability in the market. After FTX case, this is the second time that Bitcoin has taken a sharp dump and crashed 17% to 20% in a single day and it has dragged all the altcoins with it.
Unfortunately our beloved #Hive is also included in these coins, whose price has fallen from its highest peak and is currently around 0.0512. If I measure it today, it has dropped around 98% from its recent spike, its painful. But this is part of the market and it is important to understand such situations.
In yesterday’s post you may have noticed that I gave four plans for Hive users, so they can adopt any plan and survive this situation without worry. Today another idea came to my mind and I thought to share it with you.
You can see that Bitcoin has grabbed its previous liquidity. Its previous liquidity was around 59900. The good thing is that in this recent crash, that liquidity has been taken.
That means from the previous low, now a good green candle is forming on a daily basis. If today’s closing happens with the same momentum then it will create a bullish scenario. In the next image you can see that I have also prepared a long side trade setup.
If today’s daily candle closes green, then tomorrow we will see good volatility where Bitcoin price may again move aggressively toward the recovery zone. I have also given a trade setup in which a good risk-to-reward opportunity is available. We are also seeing that the imbalance area above is being filled, which is necessary.
Bitcoin never moves in only one direction, up or down. If it makes a 20% sharp drop then an 8% to 9% correction is normal.
Keeping this in mind, I have also given a trade setup which according to me, is valid. But if you want to enter this trade, you must do your own financial analysis because I will not be responsible for any loss.
One more thing that this is a very good time for Hive users to convert. If you have HBD or Bitcoin, you can move into Hive at this time. The reason is that if Bitcoin moves 5% to 7% upward, then altcoins will perform better. I think Hive can move around 10% to 12%. So if you get 5% to 6% profit in Bitcoin then you can possibly get 10% to 12% profit in Hive.
Because we have reasons to stay in Hive, I chose Hive. There are many other altcoins where we can invest, but if we get stuck there, we may not have a proper plan. But if we get stuck in Hive, we have four plans.
Whoever reads this content will find it very informative and interesting.
Remember, next week is very important for Bitcoin, because we are entering a recovery phase. If there are no war news or global negative scenarios, this recovery will come. Otherwise, news can make the crypto market very volatile and unpredictable.
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.
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