Technical Analysis: Hive To Hit $0.82 Soon πŸš€πŸš€πŸš€.

in LeoFinance β€’ 3 years ago (edited)

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Early April this year, HIVE had a massive dump form $1.06 to $0.3567, which was a -67% drop.

The bulls came into the market pumped price back up to $0.8288, at this point I thought yah bulls are doing it, then price fell again even lower than the previous low to $0.26(-64% drop).

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The price drop formed the big falling wedge you can see in my chart above, price continued to drop till it got a previous resistance at $0.19 dip below it a bit to $0.16, but came back to respect the resistance line as it closed above it.

As price broke above the falling wedge in July, I measured the starting point on the falling wedge to get my target for take profit, Which is the yellow vertical line you're seeing in my chart above and the blue horizontal line marks my target which is at $0.826.

In August price consolidated and formed a bull pennant pattern, which it eventually broke out and continued the bull run.

I see hive getting to my target before the ending of September, if it breaks the resistance level at $0.71, current price at $0.64.

And before the end of the year we might get a new all-time-high.

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I have the feeling that end of year is always "all-time-high" for crypto currencies just because bitcoin is almost always high before new year's eve and then everything drops

I don't think BTC will drop this year tho, but I could wrong, let's see what the market will give us 😊.

wait and see :)
I've been a crypto owner for a long time (almost 7 years) and every year I see the same pattern.
BTC grows and grows again and at the end of the year, everyone sells before the accounting year's end.

But you're right, let's see what the market (which is by definition hard to predict) will give us.
Maybe we'll get a nice surprise.

Maybe but it will be a nice surprise 😊