Hive Analysis with Bollinger Band

Bitcoin price made a great increase last week, reaching as high as $64,400. Bitcoin price continued horizontally for a while. In such horizontal movements, the direction is either up or down. Frankly, the downside probability was higher. Bitcoin price continues to surprise. The arrival of ETF approval has a big part in this. Now, if the price is like this, everyone started to think about how much the price will increase during the angry bull period. I don't know, maybe we will witness a bull period we have never seen before.

There has also been a remarkable increase in Hive in recent days. Currently the price is $0.408 but a few hours ago it increased to $0.456.

(Tradingview Hive /USDT 1D chart)

As you can see in the chart, the price has gone out of the bollinger band. When the Bollinger band goes outside, returns occur quickly. The same reaction occurs when the lower band is exceeded, and when the upper band is exceeded. For healthy increases, the price should move forward after moving horizontally here for a while. Hive price is currently located between the middle band and the upper band, in touch with the upper band.

The Hive chart looks pretty awesome. If there is no pullback in Bitcoin and the market maker wants it, there can be great increases in hive.