Hi guys! It's been 24 days since I wrote about my thoughts on the Bitcoin market and how I was more interested in the new price floor. It's amazing how the market can change in such a short period of time, and I'm glad to see that my thoughts about the new price floor for Bitcoin have come to fruition.
The price of Bitcoin has tested $24k after a very long time, and it seems like the $20k range is now the new price floor. The support has been excellent at $22.8k and even stronger at $22.5k, making it a nice time to watch the charts.
I also mentioned the recent pump of Hive and how it's usually followed by a dump, but this recent pump has been giving a different vibe. After pumping to $0.65, Hive has found a pretty strong support at $0.45 and even stronger at $0.40, making it a great time to hold some Hive. The new price floor for Hive should now be around $0.38 or $0.40, which is a good sign for those who missed the previous pump.
In my previous post, I admitted that I missed the pump because I was too focused on scalping in little margins. I was so used to buying low and selling higher that I never saw this pump coming, and I sold my profits too early. But, it seems like I've learnt from my mistakes, and I'm glad that I've DCA'd into the market since then.
The FTX contagion is slowly getting behind us, and I think it's a wise decision to continue DCAing now, especially with the new price floor being established. If the market stays at these 22k levels for a bit and a new floor is confirmed, I wonder how long it will take for the market to become boring again.
I'm glad that the market has been exciting to watch these past few days, and I'm looking forward to seeing where it will go next. It's always important to keep an eye on the market and to not get too complacent, as it can change quickly. As always, trade safely and never invest more than you can afford to lose.
Thanks for reading.
