Good day Hiveians!
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I my last post I outlined two scenarios for Hive: Although the first scenario has already played out, I think we are about to face the second one as well
Scenario 2 being Hive going to 12 cents as seen in this chart:
What I based the first scenario on was for BTC to take a dip (which happened, but it was much smaller than what I would have expected that would be necessary for Hive going this low so fast). This suggests to me that Hive unfortunately is in a weak position. This is evident from the chart: there are no support levels further down (although before the big spike to 1$ there was a low I believe which was in the 12-14 cents area).
With Hive having already reached 14 cents (and BTC being relatively stable), I am very confident that we will see 12 cents soon (perhaps even 10 cents) as I still fully expect that there will be a larger correction for BTC. If BTC goes to 9k or even 8k Hive won't have the strength to sustain current price levels.
These are my scenarios for BTC/USD(T) (read more about them in my post here)
In my opinion Hive is currently undervalued and the current price levels should present great buying opportunities.
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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