[HIVE/BTC] - First demand zone reached?

in hive •  3 months ago 

I'm very happy to see that after the ''massive beast-mode run'' that we had the previous week with hive (and the following and 100% expected dump) the TA is starting to show the first signs of demand and trend change behaviour in the current downtrend (all these analysis are my opinion, as always).

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I'm doing this technical analysis in the 4H timeframe, as higher timeframes (still) don't provide enough information IMO. if we add the fact that Hive is 1 month old... hehe, what else to say.

As I mentioned before, we had the massive run up, (bla, bla bla...) now we dump, AND as I stated before, the price is starting to hold at the ~5000 sats zone. This zone also coincides with the 55 EMA, a moving average which I'm loving lately to spot medium-term trends.

This spot could be the first zone to start averaging in again if you have a 'swing' position (which obviously don't have, as I'm 100% powered up, but still I like to watch charts)

In fact I think we're (still) going down due to the fact that BTC is pumping today. +8% isn't a average day for BTC, should say.

If the current level doesn't hold (which is a very real possibility btw and more specially if Justin starts playing their shitty games) I hope the 200 EMA to hold (my blue line).

hivefibo.png

Would also like to mention that the ~5000 sats level coincides with the 0,618 fib. retracement. If this level fails to hold I expect the next one (0,786) to hold as last-instance support.

Even If the first level fails to hold (I won't go full x100 long here hehe) I can only say ''thanks'' to everyone who's making Hive possible.

After all this is being a mythic journey. And we should be feeling proud of all the recognition that we're facing.

We as the Hive community we're real champions. I'm starting to feel better gradually and can't stop checking @coingecko lately.

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Thanks for reading!
You can follow me on Twitter

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Even with the BIG correction, Hive is still ranked #1 on the 7d performance in Coingecko. Let's hope the 62Fib holds...

Screenshot 20200429 at 20.12.36.png

So far it's holding....~4900 sats atm. Not bad at all! :)

@empoderat, nice TA! Thank you for sharing it.

Btw, I also expect the price of HIVE to stabilize and then to rebound.

Posted Using LeoFinance

I always try to point that TA is a 10% and the other 90% is risk management & psychology to stomach the volatility in the markets.

Anyway, I also expect HIVE to stabilize at the current area (not much lower if we shit the bed) and rebound..

Question is... how we'll be rebounding...?

I see that you started to follow me on twitter, I try to avoid shitposting (at least not too much!), thanks. :)

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