[HIVE/BTC] - Ok, rebound time at 0,786 fibo (right?)

in hive •  2 months ago 

As I pointed a couple of days ago at this post, reaching the 0,786 fibo area was a very probable scenario if the previous level of 0,618 failed to hold (The price was almost piercing the support as I was writing, so no surprise here).

But now, we're reaching the level that 'was supposed to hold':


As you can see the price was very choppy after breaking the 0,618 level and the sells wasn't fierce at all. We have a lot of sellers, but not many buyers as we're still up ~300% taking in consideration prices from 10 days ago.

It feels like people still thinks that is very expensive to buy HIVE at these levels. But not that many are looking to sell, which should be a reason to explain the ongoing 'equilibrium' that (apparently) we're slowly finding.

In addition, RSI starts to dip into the 'oversold' zone, which usually is a reliable indicator of a rebound incoming. Question is... how severe?


I'll keep paying attention to the levels.
Thanks for reading!

You can follow me on Twitter

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Congratulations @empoderat! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You distributed more than 19000 upvotes. Your next target is to reach 20000 upvotes.

You can view your badges on your board and compare to others on the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @hivebuzz:

Revolution! Revolution!
HiveBuzz - Hive Gamification Experience
Vote for us as a witness to get one more badge and upvotes from us with more power!