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Hive is finally making some big moves
25%+ in a day is a pretty nice candle; but the really interesting data doesn't come from the % gained. For the last 2 years Hive has underperformed rather strongly and we have often seen these green candles only to check back a day later to see that all the gains were lost again. In fact, price often even moved under the starting point of the pump: these are just price manipulations and only lead to further sell offs. So why could this time be different?
volume
Believe it or not, but Hive is one of the most liquid coins out there when it comes to a pump. Even the top coins on the market in terms of MC do not always reach this level of volume. Take today for example: we have seen around 300M Hive traded on Upbit. 300M. That is a lot. It is more than $100M in a single day. Even e.g. RUNE didn't have this kind of volume at peak bull market in the last cycle. Candles that are this big generally hint at a macro level trend change in price.
step ladder
Hive's pump and dumps generally just shoot up and back down (at least in the last 2 years). But look at today's action:
This looks like a step ladder to me that can continue for quite a bit longer. Don't get me wrong, though: Hive will crash very hard from this pump at some time - but it looks as if this pump could continue for some days or even a week or two.
Just for comparison. This is a kind of pump that we don't want to see; it just shoots up and back down - but look how this pattern is quite a big different from the one we have today.
macro outbreak
Could this be the long awaited macro outbreak and sustainable trend change? It's too soon to day for sure, but it's sure how it would start.
We need to see price crossing the purple line and then more importantly the thicker red line for this trend change to get confirmed. With only around 1.3 years or so in the bull cycle remaining there isn't exactly much time to make that happen. Maybe the time has finally come.
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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Nice post! It also printed 4th bull divergence ;) som days ago tho
at least that looks promising - not like the p&d we witnessed ... again 😶 if we don't get a real sustainable uptrend soon, I am starting to think there will be no bull this cycle - and yet many things point to alts still going to have a big rally coming some time this year
Yea its testing our patience :)
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Your HIVE data is really interesting. I am eager to see the value of hive go up. @tobetada
You have given some nice insights about Hive and crypto. Thanks for that.