I'm not a professional trader, the information below is based solely on my experience in trading for years
Yes! hive is on break out after returning to fib. sequence point 0.236(with the price of 0.4990 - 0.5400 usdt) A GOOD ENTRY POINT
after that deep we see that hive having a breakout again breaking 5 layers of our fib. seq. all the way to point 1(with the price of 0.74890000usdt)
After this breakout we are expecting 1 thing
- we are expecting the price to drop back to these 3 layers
1) 0.786(price 0.695usdt)
2) 0.618(price 0.646usdt)
3) 0.5(price 0.6100usdt)
The question is how can we know when or where will this drop stops? well, only the market can tell but the good news is we can actually speculate that!
upon zooming the chart in 5mins TF we can see that the drop stops already and the candles are trying to breakthrough the point 0.786 of our fib seq. and this is a piece of good news for us, we will see another break out if the hive manages to break this small resistance all the way up.
so as a final result of my study we will be seeing hive to 1usd so soon if the next 5 to 6 1hour candles break above 0.8 usdt or we will be seeing hive below 0.5usdt in a few days if hive didn't manage to break this resistance.