HIVE sitting back at previous support levels, is this a buy?
The price of HIVE is sitting right where it bounced from previously
Will history repeat?
In terms of BTC, HIVE is right were it was trading the last time it saw a sizable bounce...
Check out the 4H chart:
(Source: https://bittrex.com/Market/Index?MarketName=BTC-HIVE)
As you can see, HIVE is sitting right at the same level it was at when it saw a decent sized bounce previously.
Will history repeat?
There is no guarantee that we will see the same type of action again, but there is reason to be optimistic...
In general, the more often a price touches a support or resistance level, the weaker it becomes.
It often touches, bounces, touches, bounces, and then breaks through on the 3rd attempted touch.
One reason many traders say there is no such thing as a triple bottom.
In this case we are talking about a double bottom, which means there is a decent chance that HIVE sees at least a little bounce here.
Given everything that is going on in the broader markets it is really tough to say what HIVE will do.
My thoughts...
Bitcoin is starting to get volatile again, which often is bad for altcoins, but with the big move up to $10k, as long as it doesn't completely tank, there might be a mini altseason on a BTC pullback.
Which is more or less kind of what we are seeing today as bitcoin pulls back and alts bounce.
That being said, my personal opinion is that this is a decent spot to be picking up some HIVE, though I would also not be surprised to see it go lower in USD terms in the coming weeks depending on what happens with BTC.
We shall see.
Stay informed my friends.
-Doc
Well it's interesting because I recently just signed on to hive for the first time last week. And I hadn't seen the new site until last week. I was kind of excited about getting my blog back together. So now it's a matter of seeing who's still here. Seems like a lot of things have changed and haven't really gotten the answers to the questions I need answered.
That being said lately I've shifted my focus on what coins I buy. Lately I buy only coins that really seem to be doing something in the space. Where before you could buy a coin that you heard about and the odds were good that you were going to make a profit. I stopped blogging almost two years ago I guess. And then steem forked. Yet the process that I made oh, and the coins I accumulated were carried over into hive. I know there's a lot of projects being built on hive. And there's a community striving to keep it going forward. I think if you can develop the discipline to continue blogging then why not buy more hive. It's a coin that in theory if you're using the platform then of course having it will benefit you.
Welcome back.
By the way, you still have the Steem you accumulated.
Got a 2 for 1 deal.
Posted Using LeoFinance
Yes you are right. It may be buy time again before it rises a little.
All I know is that when exchanges disable wallets, price goes up and when the wallets are re-enabled, price will go down...
dont use exchanges
It's good when people are selling coins to cash out... But when people are buying, they need to wait until wallets are re-enabled... I did nice profits during wallet maintenance about 2 years ago in stocks.exchange. I started with less than 1 USD and got 60 USD when wallets were re-enabled...
or you can keep your assets in your own wallet that never gets disabled and you have full control, the whole point of digital assets was to get away from cash markets and the plunging dollar, decentralization is the only way, markets are important but to trade your assets not to hold them
I've said many times that no asset has any value if people just keep the balance in their own wallets...
Even when they are HODLing, then usually buy more and more and that is when the asset moves...
that is true with any asset besides cryptocurrency
I'm pretty confident it applies to cryptocurrencies more than to government or central bank issued currencies...
yes but cryptos are mined they dont have to be bought
Mining or staking push value down, buying push it up....
Have to buy more than people are selling...
I’ve had some ladder limits buys starting at 3900 all the way down to 1500 sats.
5 of those orders have gotten filled for me in the range of 3500-3900. Watching with eyes peeled to see which direction we go from here.
Posted Using LeoFinance
I think you are correct. Hopefully we see a nice run up.
I converted a bit more STEEM to HIVE as the gap between the closed.
Seemed like a good time to do it.
Posted Using LeoFinance
Bitcoin just tanked, so I guess people are rushing into safe havens.
Posted Using LeoFinance
Hello, sir.
I've tried to reach you by discord and the extinct steem.chat but it's been in vain.
I'd like to talk in private if you don't mind.
What is your name on cord?
arrozymangophoto#8542 😀
@jrcornel could you find me in discord?
arrozymangophoto#8542
well still waiting for the perfect dip every alt will shake no matter how cool is it when btc will start the run but at this moment its just for accumulation to get lower zones of buying
one thing that caused Hive's spike last time was the Huobi give away and listing announcement, I think we may need something like that to lift Hive up again, but hey I am an optimist seeing Hive rise like that was a rush. I hope you are right friend. In the meantime we should all be pitching Hive to different exchanges and trying to get it listed because the more places Hive is traded the better for us. Even getting it listed of informational sites like coingecko and cryptocompare was huge, but we need more :)
No, the support I was referring to was after the Huobi run up and subsequent dump. If you look at the chart, it was the spot HIVE bounced from several days back...
my mistake