Crypto Analysis | Update on Hive
Good day Hiveians!
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This is a quick update on Hive after it has performed so well
Just 12 days ago we talked about the potential for Hive to go to 3$. Out chart looked like this:
When we compare this to the actual movement we can see that this scenario was quite accurate (notice that I have shifted the green and red squares a bit):
I actually expected that we would see a double attempt at the 3.4$ target, but it went in one big push. You can see that I am expecting a larger correction now. This is due to the fact that Hive has always performed like this (of course there are always firsts). After a big push like this, Hive enters a longer correction, which you can see from April to July this year. The reason for why I think a further push is unlikely is that A) the fib retracement has been reached and B) it went all the way to the top of the trend line.
However, I think that this correction might be shorter than the one seen on the left. The telling signal is the green channel that Hive has been moving. It is widening, but the lower trend line is converging towards the big resistance from the thicker blue trend line at which Hive is currently sitting. I think that Hive will reach for that lower green trend line, before pushing further upwards still. This would correspond to a potential low of about 1.2$
If this happens, Hive is set for much higher highs, as the next fib retracement is at about 10$.
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!
Me too, it took us all by a surprise. We are all glad it happens anyway.
$10? Its huge anyway, steem once ran to $8 so anything is possible and hive is way better too.
What do you think about the alleged koreans pumping $hive. Do you put that into consideration too? Or you just focus on the technical analysis? ..I love the way you do this Analysis everytime.
Hahahaha and for my cloud post, my cloud is yet to give me the beauty I deserve for a shot
We also aspect it.. hope hive was gone in high day by day.
I hope we have another push before this year runs out, something between $5-10 will be massively cool.
Nice analysis as always.
possible, but unlikely :D
10$ will be amazing milestone and I can't wait to see hive at this price.
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Perfect call @tobetada! 👍