Hello Hive Fellows,
This is my Hivelog # 01 in which I am sharing my view about the recent Bitcoin movement and possibilities. I recently signed up on 3Speak Community and was wondering on what to share in my 1st video. In my Plans for 2022, I have mentioned that I will be sharing my analysis and trading routine about the Crypto and Forex market.
So I have decided to talk about the hot topic of the moment which is Bitcoin crossing 50k mark yesterday. Most of the people have started to think that it is going to make new ATH. It looks good if you want the market to move as you wish but I am not kind of a trader who make decision by what I want. Instead, I watch the charts and price action and take decision based on what the charts are showing.
In this video, I have talked about my perspective of bitcoin movement and I am still not convinced that it is going to make new ATH. Bitcoin is still ranging in 45 to 52K range and it has to break this 52k liquidity level convincingly with a good Green candle on H4 timeframe at least. if this happens, we can see bitcoin going for the next liquidity level of 58,000.
I have also explained the price action on daily time frame which is showing good bullish move with yesterday green candle. The little downtrend has be broken convincingly and we need 1 more green candle like this to see continuation of Bullish momentum.
To conclude my Hivelog, I have mentioned that bitcoin still need more bullish confirmation if we want to see the 60k level at least. I am still not convinced about the bullish move yet but I want it to make more green candles so that we can see 60k mark. If this happens, it will be good for Hive price as well because we will see $2 mark which I know most of the Hive community members are waiting.
If you liked my video, please give it a thumbs up to show your support and it will encourage me to produce more content which will help the community members who are looking for content in Crypto and Forex markets.