Welcome back to the Daily Trade! Today I am looking at Hive and it's consolidation after a bit of a short term downtrend. As I sit and write this post, my bullish trend alert from the Logical Trading Indicator hit for the Hive/USDT on Binance 1HR time frame.
This alert is telling me that the trend is starting to change so I am looking for some bullish movements to happen, hopefully in the near future. This happens on the Logical Trading Indicator when the price crosses above the basis line, or the moving average that the indicator is based on.
What I am waiting on is for the candlesticks to turn green which on this indicator means that there is bullish momentum. When the candlesticks are white, that is the indication that the price is in a squeeze, or consolidation. This is when the Bollinger bands fit inside the Keltner channel indicating that there is little volatility in the market, basically means hold tight.
On top of the green momentum, I am also waiting on the glorious BUY signal telling me that not only we are going in the right direction, but there is some volume behind it.
As I am sitting and waiting on the trade to go through I have my HBD all ready to go for the internal exchange, which I have found is one of the safest ways to trade out here! I am bringing more trading focus to Hive in my own trading plan, and hope to encourage you to start earning more by trading up, all on chain!
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Disclaimer: The information in this trade journal is for educational purposes only and should not be considered financial advice. Please consult with a qualified financial advisor before making any investment decisions.
