The crypto space generally is in bearish momentum for the past few months. We have seen some major coins drop down, but I think it is about time we push the move . I will be using our own crypto currency that's Hive, as the case study today.
HIVE/USDT WEEKLY CHART 📉📈 (BINANCE)
this is the weekly chart of the hive paired with the dollar as we can see hive is currently trending bearish, but this week is at the bottom of the previous week's low so we might see a reversal from this zone.
Would this demand zone even hold?
Technically I think yes but fundamentally I don't really know, we have seen it drop from the 0.5000 level to 0.2886 currently these levels are significantly a psychological level that we use for technical analysis we believe that the market used those levels for execution. Mostly the top investors seem to buy or sell off from those price level with round Numbers.
Next level 🤔
My buying level will be around 0.2500 or if proven wrong we can move to 0.2000 but I think this weekly block is the best zone to push up. It might take a few weeks for a clear picture but I'm seeing it already. We are about to go now.
this is just my analysis and I will updating it weekly as we keep creating pattern do well to follow me as we embarked on this journey of crypto stats and analysis.
DISCLAIMER
THIS IS NOT A FINANCIAL ADVICE ALWAYS MAKE YOUR ANALYSIS BEFORE INVESTING ON ANY OF MY IDEA THIS IS JUST MY VIEW NOT A SIGNAL.
thank you for visiting my blog 💕😗