Bitcoin's Correction Phase: Strategies for Investors
We see a week ago that Bitcoin was bullish and it surpasses its all-time high and reached another high level of 73,000.
In the last 3 to 4 months. I have seen a continuous rise in Bitcoin, which was the good news of SEC, halving and some other news. This helped the crypto to move upside to reach their all-time high.
But as usual, we know that crypto Market does not move in one direction trend, but it takes correction as always .
So a good correction was expected for Bitcoin and I discussed this before with you guys that a healthy correction is due and soon we will see that Bitcoin will drop to the level of $59K --- $63K.
Right now the price of Bitcoin is $66,000 and according to 1D time frame. The trend has changed and Bitcoin is now heading down side. It's more expected that Bitcoin will touch the price of 59,000 and will back be boom to go to surpass another all-time high.
There are 3 strong support and resistance levels for #hive right now,
These supports will be very helpful for the price for rejection and the resistance levels for the breakthrough
If I talk about the support levels, we have 3 levels at $0.3860, The second support is at $0.3743 and the third support is at $0.3404. These are the 3 strong supports which will give a good rejection from this price level.
Also in case Market changes its strength and turns bullish then we have 3 resistance line for #hive, the first resistance is 0.4259, the second one is at $0.4450 And the last at $0.4800.
These are the 3 resistance levels for the hive which gives a good momentum for price. These supports and resistance levels are according to 1 day time frame which will help you to take the right decisions if investing in hive.
What do you people think Will the Market takes some more correction or will or it will recover from this level? Will be glad to see your answers in the comment section.
I hope you find this post useful and informative. If you do, please remember to reblog it so that it reaches as many people as possible and that they can benefit the most from it. Also, remember to upvote, which will help me financially and grow my account.
IMAGE TAKEN FROM CANVA
Thank You!
Best Wishes.
