Hive Analysis with Bollinger Band

Bitcoin price rose as high as $73,777 last week. Then there was a decrease of nearly 10%. There is something that has come to my attention in recent weeks. A decline that started Friday afternoon continues until Sunday morning. Then, there is a slight recovery, followed by an increase in price during the week. I experienced this many times during the 2021 bull season. It is a bit difficult to intervene in the market to buy after the decline on weekends. That's why the market maker sells on weekends.

The price increase in Bitcoin directly affected Hive. On Tuesday, hive price increased up to $0.496. After the decline in Bitcoin price, it fell to $0.37. Its current price is $0.392.

(Tradingview hive /usdt 1d chart)

When the Hive price increased, the width between the bollinger bands also increased. When the market is active, such a situation arises. Over the weekend, the hive price fell so much that the price almost touched the lower band from the upper band down.

Hive price is currently somewhere between the lower band and the middle band. I cannot hope for a new increase without going above the middle band. It is useful to follow the price carefully.