Hive Price Touched the Top Line of Descending Channel

Crypto market pumped this week with updates on WW3. Bitcoin price broke up one of great resistance. Hive price was trying to reverse up from the bottom and It went up slowly. It touched one of great resistance. Hive price was in a descending channel and It touched the top level of this channel. Hive price could not break up the top line of this channel.

Here you can see daily chart of Hive price. Hive price tested 2 times to break up the top line of this descending channel. We may see reversing down after touching the top line of descending channel.

Here you can see the indicators on daily chart of Hive price. There was great downtrend line on RSI Indicator. Hive price broke up this great downtrend line but reversed down again. It may be bullish trap. We have seen same breaking up on Bitcoin RSI Indicator. It may be a great bullish trap.

There is uptrend line on MACD Indicator. If we see more daily red candles, this MACD Indicator will break down mini uptrend line.

Fisher Indicator is on the top and ready to reverse down.

We see the same scenario on Hive price as Bitcoin price chart. We have seen the updates on WW3. We will see the effects on crypto market. Crypto market may reverse down. If it happens, market maker will make great bullish trap.

We will see...

Posted Using INLEO