Yuge move a moment ago in the HIVE/BTC markets. I haven't traded all morning, expecting the price to maybe struggle since it's been a week since the last dump. But as they say, never follow the crowd. I noticed this morning on the HIVE Technical Analysis Gauge the 1hr was predicting 'Strong Buy' and litterally shrugged it off since all timeframes higher than 1hr presented either neutral or sell. I never suggest following or trading based on the prediction but man, this was spot on.
It appears to be a cup-and-handle trend brewing, but it can also be a bull trap knowing we have ~10 (or more) weeks of power-down fueled dumps on the way.
Still, this is a good, no, Great sign! Buyers are here, and if it's new users, members or traders then we can expect more gains... even in a Bitcoin bear trend.
Risk = Reward.
Interested in your thoughts/opinions, are you buying/trading HIVE?
Peace ✌️
Clearly, this is not financial advice.
*This post was shared on Twitter, here:
Nah man. 7 days exactly from last weeks drop because so much Hive is going liquid today. Personally I worry a dump.
Same here. Not really worried, but more aware of the risk. The Hive vs Steem power-down comparison post by @dalz has eased many fears, including mine. Took some off the table and set an order to buy more today <1600 if it corrects.
I got orders in all the way down lol. The volitility has given me plenty of opportunity to accumulate.
All their HIVE belong to us! 😅
Bro I was margin trading on Ionomy when Hive first started trading there. The margin was high and it was the only place (that I knew of) where you could deposit, trade, and withdrawl. I managed to make a couple Hive for sure.
Nice play, I haven't tried ionomy (nor margin trading HIVE) yet but mostly because I already had a Bittrex account
courtesy of @penguinpablo
That's what concerns me.
Yeah, that old chart concerned me as well but this one takes the cake:
HIVE is in red. It's ~40m powered down Steem compared to 8m HIVE... eventually the bow will break, there isn't enough powered down HIVE to compete with Steem dumpers buying up the cheap HIVE imho
There's also the possibility if they didn't freeze accounts on Steem, that last dump would not have been so severe.
That's a very good point. Personally, I think that both Steem and Hive will be lower than 17 cents in a couple weeks and it is my hope that Hive recovers faster. I am hedging my bets and slowly accumulating more Bitcoin and not JUST selling my Steem and buying Hive. I am trying to have a little in the war chest to pick 'em up if Hive drops like that again.
That could end up as an enormous breakout.
C&H patterns usually are very powerful.
Good times ahead for HIVE at some point.