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Now that a possible "Bezos Rally" has offset the bigger correction in the market, Hive has a good chance of doubling short term
Hive is very volatile, much more so than other coins. It therefore has the potential of making very big upward gains (and downward losses). With BTC possibly reaching 45k soon, I think this could catapult Hive to the 60-70 cents range (for a very short time).
This "fan method" of tracing out trend lines has so far worked quite well. We therefore have a good target in the upper 60s. If you look at the chart, these peaks have never lasted long. So it should be a classic "pump and dump". I would expect prices to consolidate in the 50-60 range and then crashing back down to about 20-30 cents (depending on whether BTC makes a further downturn).
The long term direction could look something like this:
I would expect the "Bezos Rally" to last for about a month to 6 weeks. In September/October there could be a bigger correction and consolidation at lower levels, before finally going into the winter/spring rally. As pointed out in the past there is a very good indication that prices will hit the 2-3$ range. If we are lucky, this won't be the market top, but rather the "middle of the journey". If this plays out, I would then expect a further and last impulse wave to take us upwards of 5$.
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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I don't believe we will have such steep corrections any time soon. There will be pullbacks, but not on that level.
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if you look at the impulse wave from January to April, there have always been pull backs anywhere between 40-60%. But you are right, the "consolidation" might be higher, e.g., in the 50 cent range, and if it can hold that level, we are going to be in the dollar ranges soon enough. But I am very confident this won't be just a run up now without major pullbacks (it's just how hive "behaves"). However, if one thinks long term, they shouldn't be worrisome.
Looks great, your idea will also contract into a big bullish pennant, breakout at end will lead to your target! :))
I didn't even had that in mind! so lookin good for now :)
Looks great, your idea will also contract into a big bullish pennant, breakout at end will lead to your target! :))
Would love to see the Bezos rally last for at least 6 months...And technically, you are absolutely right, the $0.60 is definitely in reach...
Great post!😀
thank you :)
We'll see!
Hmmm... this looks interesting what you're showing here, I've been thinking something similar in my head some months :) ... and now I can see I not think alone .... but we soon see how this summer end comes :)
glad that I am not alone 😀
Investing in bitcoins is both exciting and scary at the same time @tobeda, Thank you for the explanation.
glad if it is helpful :)
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STOPCheck out the last post from @hivebuzz:
I know these are just educated and veteran speculations but you needed to see me smiling from ear to ear like a fool as I read this. Because I'm expecting the best. Good news is always music 😂
wow, surprised myself there a bit as well 😅 Now is actually a good time to sell some Hive again, because it will very likely come down to at least the 30-40 cents range again. But if you are long, just hold :)
Man, I've really been impressed by your analysis so far. I made the comment above, went to sleep and woke up to see some increase like you speculated.. great stuff, man!👍
My Outlook is kinda long, I'm waiting for that $1 atleast 😃
That should be coming before December in your opinion, right?
Hmmm... it looks we had right something , we soon see what next :))