Bitcoin Breaks $72k
Hey guys and girls. Quite a year for #bitcoin and crypto in general. I keep starting to write trading related posts (about $HIVE and $BTC) and then stop myself as I'm always nervous about giving people financial advice online...even with my constant warnings that the info is for educational purposes only!
You can see in my graph below that $BITCOIN has absolutely smashed all resistance lines since breaking the 99-Day moving average (thick blue line). Right now we are in 'price discovery' mode, meaning the market is determining the next all time high. If you'd like to chat about trading and crypto in general, please join the THGaming Market Watch Channel in our Discord, where we can chat about different cryptocurrencies in a safe space.
(Above) The $BITCOIN Weekly Chart where each candle = 1 week
$HIVE's Alive
So why hasn't $HIVE joined the party yet and started pushing up like some of the other #altcoins such as $ETHEREUM, $SOLANA, $ADA, $LTC...not to mention all the shitty Meme Coins currently storming up in value? Well $HIVE is, at this time, considered a Low Cap altcoin, sitting around $235 million market-cap and hovering around 300 mcap ranking in terms of all cryptocurrencies in the world. Smaller cap altcoins take a bit longer in the Bull Market to move like the more 'stable' alts out there, as people look to funnel their $BITCOIN profits and/or their hard earned fiat into "larger and safer" crypto investments.
So, is $HIVE a good buy?
Nothing is certain in trading and the crypto markets are particularly volatile. At this stage I'd say $HIVE has a lot more room to grow than it does to fall, seeing as the previous $HIVE all time high was about $3.4, and the lowest we got to in the bear market was $0.26. We're also seeing $HIVE break the $0.40 mark right now which was a big resistance point for almost a year, as well as $HIVE managing to break the 99-Day moving average (MA) on the weekly chart. If we hold the 99-Day MA and the $0.40 resistance, I think we'll see $HIVE pushing up to some really great levels.
Again, if you want to chat about crypto topics, including $HIVE or any other cryptos out there, drop into the THGaming Market Watch Channel and let's get a conversation going!
Anyway, I hope every investor out there is trading safely and only using money that they can afford to lose. It seems that the crypto bull market has returned and a lot of the Altcoins are starting to really pump! Good times.
Thanks for joining me in my Gaming and Crypto journey. As always...
Trade safely, Game hard.
THE END
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I hope we see continued movement, at $0.46 at the moment!
Yeah $0.46 is a bit of a resistance point, so that's the next one to watch. We're slightly above it at the moment. $0.53-$0.54 will also show some resistance as this is the monthly high moving average. If you're a day trader or looking to take profits then these are the resistance points to watch out for.
Still plenty of momentum pushing into the halving.
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Tons of momentum. Almost every day we see $BTC all time highing. Crazy times! Waiting for Hive to catch up with the rest of the market.
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