Hello everyone, welcome back to the weekly cryptocurrency analysis, today I'll share my thoughts on several coin trends.
These types of articles are expected to be updated weekly, usually Sunday.
Let's get started!
View of the entire market
Let me talk about my views on the entire market first.
From the perspective of the overall market, the decline in the past few days is obviously because the market is not optimistic about the hedging ability of cryptocurrencies. Digitization is an advantage of cryptocurrencies compared to traditional gold and dollar hedging, but it will take some time to develop.
BTC Analysis
BTC maintained its upward trend over the weekend, but has continued to decline since 3/2. The next step is to see if the support at $37,000 is valid. In terms of trading volume, these days are also higher than the past few weeks. Significantly increased trading volume will increase market volatility.
I personally think that if the $37,000 support level is broken, there will be a possibility of a further drop to $35,000, at which point investors can consider buying.
HIVE Analysis
HIVE also fell 3/2 with the broader market, with the next support around $0.86. If it fails to support, it could drop below $0.8.
At present, I personally do not recommend buying HIVE, but if HIVE continues to fall after a few days, you can consider buying slowly after falling below $0.8.
The above is for sharing, not investment advice, please be cautious when investing
You can also share your opinion in the comments
Thanks for reading, see you next time.
