RE: Bottom Fishing
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I hope, you can spare some TA for Hive in your next TA post. since you already posted on the top the chart of Hive.
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You are viewing a single comment's thread:
I hope, you can spare some TA for Hive in your next TA post. since you already posted on the top the chart of Hive.
Honestly I'm not a TA guy but I just use volume, stochastics (Moving averages), RSI and sometimes bollinger bands, but that's it. I just use TA to confirm some things but not my sole basis for decisions. Let's see. I will try.
One other thing why I don't depend on TA even during my stock market days is that the graphs you see are based on done transactions and with crypto it's a bit dicey because one minute you might get a buying signal but then the next transaction could be a whale dumping or vice versa.
But I think Hive is not your typical crypto, so probably I could do that, but no guarantees. Most of the things I share are from the perspective of mass psychology, which can be supported by TA but from experience is not always the case.
It seems somebody has beat us into bottom fishing on Hive. I noticed Hive was around $1.11 while publishing my post but not it's on 1.16. The moving averages, the three lines are still above the candlesticks which technically still points to a don't buy signal yet. But then the red circle on top is showing quite a volume of buying is happening. The biggest resistance is 16k hive, then there's 7k, 5k, 1k and some smaller amounts so roughly about needing someone to buy up 31k hive coins to get it to $1.17. So whoever is buying didn't really wait for the moving averages to give a buy signal. No need to look at RSI someone is already buying.