HIVE Weekly Chart

in #trade9 months ago

Last year, HIVE price lasted 7 weeks below the 21 Medium Average, as you can see in the purple line below:

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I’ve made a circle around the date I’m expecting HIVE to have a significant recovery in the weekly chart.
It’s June 20th. Let’s see how well this post ages.

This year we’re seeing more than 14 week candles below the 21 MA, and another 4 below the 50 Medium Average. Probably due to the huge spike in price a few months ago.

Considering possibilities

To be brutally cold when analyzing the chart, I cannot deny there’s a possible death cross incoming, but that most probably already happened, as the Medium Average indicator is a delayed one. The information comes after it happened, in order to have a better confirmation of it.

Possible, but not expected.

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Making A Comparison

Last year the Weekly RSI went all the way down to 44, but didn’t drop more than that, which for me was a surprise.

If everything goes as expected, HIVE should behave similarly this year, The current RSI is 43.29 on the Weekly Chart, as you can see on the first image.

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Hive Price

The price is currently $0.5192 on Binance, and I belive it should stay like that if BTC continues to consolidate around 30k.

Worst case scenario would be seeing HIVE RSI dropping to 20 or something, but in this case this would become an enormous opportunity to stack more. I’ve made a Power Up yesterday of 1800 HIVE on average. Time to accumulate, no doubt.

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Remember to always make your own research, pathfinder.
May the force be with you.

@xmauron3

The future is awesome.

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🎁 For me Hive prices below 50 Cent are a Gift. Will definitely accumulate more shortly. My price target until 2025 is a 5$ Hive.
Do you have a long term target? If yes, where do your see our beloved coin in a few years from now?

Always keep an eye on All Time Highs. If I’m able to save 10% for $5 or more, that would probably be enough, considering some trading if I get this lucky to sell at an All time high or closer to that. $2.20-$2.50 is a reasonable price next year. $5 would be during the all time highs for now and next year, I believe. Hive is rising and growing, that’s a fact. We’re not dealing with a failure or a possible disaster. On the contrary….. ;) take care bro

🙌🏻📈

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This might be useful. For me, Livermore’s accumulation cylinder theory is basically HIVE weekly chart. It grows exponentially every year basically speaking. The same pattern…
I could be crazy but my pockets tell me I’m not , and future will speak by itself.

worst case scenario we repeat 2018 or 2020 and get some fresh air to accumulate a lot very cheap crypto.$0.20, $0.30 Hive would be very, very, nice…. Even if we get it for one day only a price like $0.175 would be a dream.

Anyway, Jesse Livermore was a genius trader. Make your research about him. Cheers bro

👍🏻 Thanks, mate. Yes, heard about Livermore. Wrote also books about trading, didn’t he?

Yay! 🤗
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