This is one of the longest red weekly candles series on Hive price chart. Hive price is on weekly red candles trend. 6th weekly red candles completed. We are in 7th week and we are trying to find reversing signals from the bottom. We need to see a trigger for crypto market to reverse up.
Here you can see weekly chart of Hive price. Hive price was in depression zone. After breaking down the bottom of this depression zone, Hive price got double depression as all altcoins.
Here you can see the indicators on weekly chart of Hive price. Fisher and MACD Indicators are close to the bottom. They will reverse up when Hive price gets weekly green candle.
There was great support line on RSI Indicator. Last previous week Hive price closed the week above this support line but After weekly close we have seen breaking down on this great support line.
So, the bullish pattern is broken down. We should see the new pattern on Hive price chart.
It was so important. Because this bullish pattern was coming from the beginning of Hive price chart. So, we need to see the new pattern on Hive price chart.
So, the mega bullish trend on Hive price chart is broken down. I shared lots of analysis about Bitcoin price chart and said It entered bearish season. It may be good time to build Hive accounts during bearish season. It may be good time to pick up discounted crypto and power up.
We will see..