Buy Zone: Price of Hive
17 Days back I wrote this post regarding the Price of Hive, when it was trading at 3375 satoshi. In that post I tried to explain the difficulty of TA as a tool for price prediction. I mentioned that price prediction is dangerous and does not work, especially on crypto, which neither have a decent volume, nor have a stable/regular news release cycles similar to earning report of a common stock.
I used this chart above, which a "buy zone' on it. My thoughts were fairly simple, as most of my trading in real life. I try not to predict. I try to act based on predetermined targets. As you can see today Hive is trading at 2600 satoshis. Perfectly within my previously mentioned Buy Zone. So I bought some hive today.
Point Forward
So now what? Again, I do not have a clue about which way the price will go. But if the price goes lower, I will consider slowly to add to my position. My friend Asher pointed out earlier to me, that this box has a relatively large price range, 1000-2700, that is nearly 3X in terms of range. I agree, and I will repeat what I said to Asher. Since Hive is volatile, during big moves, some of the daily range of Hive are in the order of 3000 satoshis. That is just the reality so, chances are that will happen again, both to the upside and to the downside. We just go with the flow.
Currently I have 690K HP, and I am looking to add to this position.
And no mention of our little wager? :)
I think I will wait until HIVE is heavily in that zone, and slowly make my way to 100k.
I wasn’t sure if I want to reveal our bet. Ok so now I will with your permission! :)
So here we go:
Asher and I had a gentlemen's bet 17 days back, after I published the previous post. He said 2700 NO WAY! We will hit 5000 first before 2700. So I said, alright, here is the bet. If we hit 5000 you get 25 hive from me, if we hit 2700 before that, I get 25 hive from you.
Today was my payday :)
Thanks Asher! 😀
690K! Good grief, you are a machine!!
Should be 700 by tomorrow I am guessing! ;)
Fearless!!
did you see above that I got 25 hive from Ash?
I am just frying fish in fish oil LOL
Lol. I just read it, well done!!
I think buy time is surely close, btw that gif is awesome.
Geologist
Futures trader
Pokemon love
Who don't love rocks and investing and as for Pokemon that's amazeballs.
credit for that gif signature goes to @zord189
Thanks for the mention @azircon :)
HAH i came to say the same thing lol
i sent u both 1000 INFOWARS tokens as part of a promotion from https://CryptoWars.me
690k HP though. That's dope as hell.
well someone got to buy it...
I still have like 417 Steem and some SBD to sell. Power down comes on Wednesday, and I'll get me some more through Steem-engine
I like Gulder though ;) Haven't had it in a while
Gulder? like the beer?
Yeah the beer... not the Star :)
Oh right. I've had Gulder once, but it was a long time ago and i can't even remember how it feels. There's this weird prevalent notion that only older men 40 and above drink it, so it always feels weird to take it.
One million or bust! This post is distracting! Even so, I bought a couple thousand in solidarity, even though I'm currently trying to build a position in MCO. I also had to pick up a little more Decred, since the low price for decred has driven the staking ticket prices up.
Are you looking to get a metal credit card at Crypto.com or did I confuse MCO with something else?
exactly, looking at the 5k MCO tier.
I have been tempted with a card. I have a Revolut account but you can't move crypto in and out. Would be nice to get HIVE added!
Distracting? To you? LOL
Very few things are distracting to you :)
Hearing about your hive power I had to actually check myself to verify...lol. I came aboard a bit late so I missed the best chance to buy but if there is another crash In price (which as you say is volatile and likely to happen), then I definitely will be increasing by stake here
no worries, thanks for the visit.
imagine getting hive logos on a spacex rocket, or at least, on a starlink satelite? :D
LOL ur signature GIF says ur a GEOLOGIST and POKEMON LOVER, NICE lol
CANT GO WRONG with Trading Cards and Minerals, natures trading cards
I have picked up some from 3000 down and still have a couple buys in just about 2400 - I also have some crazy low ones - just in case :)
You should be able to get 2400 I think :)
:) I actually dropped my buys just after :D
Waiting for hunting that position as well.
Congratulations on winning 25 Hive.
Over the weekend I adjusted my buy orders heavily I'm sitting happy at around 5600 HP, but have a few schemes to getbpast where I was before the split.
I'm still powering down Steem. =)
The last time I bought Hive at this level, that sudden drop happened. It made me scared. Fortunately, I was able to sell some of it when the more sudden spike happened a few weeks later to cost average down a fair bit!
I think June will be the last wildly unpredictable month. Then everyone should have their 13 weeks done starting July.
Thank you.
But I am sure I got to buy the beer for Ash as I owed him many :)
Personally I don’t worry about price. It goes up and it goes down. It has limited impact on my actions.
That 25 hive will probably be worth a few beers sooner or later.
The only reason I'm concerned about price now is because I took a gamble that I could sell some Hive and buy some Hive to dollar cost down. I guess a lot of people who just got their Steem or Hive from blogging would be selling and trading for the first time.
When the split happened I wanted to sell my Steem to get my investment back from that so the real cost of my Hive would be 0. I've almost reached that goal, too.
I'm now in a weird position of having a negative cost average, but I have buy orders. Unless something happens really quick and stops fail, I will do well. If not I will be stuck with BTC which is not so bad.
Thanks for sharing your analysis. :) I bought me some too just around the top of that zone. I look forward to the rise! Good luck to us all! :D
'So now what? Again, I do not have a clue about which way the price will go'
The point is that you don't have a full plan for this idea! I mean you did have a buy position which was a great spot, but next, you should know what to do next before you buy. You have to have a buy-sell and stop-loss before you enter a trade. It will be much easier for you.
LOL!
Thanks! Good observation.
I hope my reply wasn't offensive! All the best!
Not at all! :)
Thank you for the visit.
Great to hear that! Until next time, have a great time.
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I am also waiting for grab some hive in good price range.
when you flag me from own account for which you paid i have full respect for that. but imho flagging from curation bot made for upvoting with free delegations is making you small and is below belt.
100% azircon own accs i respect yet i think you should stop curangel ones as they make you look abusive and silly. also falgging to zero is not cool, everyone will tell you that.
still i have no hate to you really and i dont even know why.