Crypto Analysis | Hive 16 or 60 cents?!

in LeoFinance9 days ago

Good day Hiveians!

Join me in analyzing the crypto markets!

 

If you have followed my take on the crypto market, you know that I have been more bullish than bearish recently. But we always have to at least consider both possibilities and then make a decision to the best of our judgment. The bigger picture of Hive holds a warning signal that I want to bring attention to. When we look at Hive's fractal the bull version of it has a clear pattern (marked in the purple ovals):

2hhh.jpg

Applied to the bigger context, the whole movement from early 2021 could be considered to be the same fractal:

1hhh.jpg

If so, then a correction further downward seems almost inevitable. At ~35 cents this pattern hasn't completed. How low could it go? Probably 15-20 cents...

While this seems like bad news (it would be a 50%+ correction), I still feel bullish about Hive. This is because it would be the end of that fractal, unless of course we really enter the bear market at large. Then we could be heading down to to about 5 cents :// However, I don't think that we are there yet. Even if Hive comes down to 20 cents we would still be in a bull fractal (but it couldn't go any lower than that).

The other scenario is a gradual increase to about 60 cents, before taking off again.

3hhh.jpg

We already saw this pattern before in March.

1hhh.jpg

This whole development of course depends on bitcoin and its movement which is currently undecided. There are both good arguments for BTC going to 20k or again continuing up to 50k+. The next days should make it clear where we are heading.

 


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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All that depends a lot on the market as a whole. I doubt HIVE will go against the flow.

Posted Using LeoFinance Beta

well Hive has shown some resilience in the past; but yeah, if btc dumps, Hive won't hang around at 40 cents.

Maybe BTC will break out...

hhd.jpg

If more down, I bet up first, we need to stop hunt shorters ;) context is still similar to our drop from 12k to 9,5k before bullrun started. I hope the dump yesterday was the spring in wyckoff accumulation.

image.png

It could be both, 16, then bounce to 60 yeah. Yikes!! The chart really looks like 3 descending peaks, and a nasty head and shoulders. I avoid buying charts with this pattern tbh! oooooof! I hope not, but that is what it looks like, a big dip coming sooner or later! These HIVe people like to sell, that's all I know. Oh well.

I will be powering up all my Hive from Exchanges if we have that big dip and will be going long as this price wouldn't reflect the true value of this blockchain 😎

Yeah same here, I'm saving up a little powder n the side for an emergency fund just in case it does so I can double my stack. I got all these coins doing just that. When HIVE came out at a dollar I was selling as many down all the way to the 10 cent zone, and stacked up at the bottom. Would be crazy if it happened again, but same thing happened with steem, it started falling and falling, had little fake out spikes in-between to get your hopes up, then fell again.