Hive is about to explode 😮. Read this before April👀
#Hive is gearing up to shock everyone in 2023👀. 2023 is full of fear, greed, recession, banks collapsing right and left, crypto companies collapsing right and left. There's fear, there's recession worst since the 1929 and there's blood on the streets, the list goes on and on but #HIVE is gearing up to shock the world and I'm going to show you how... Before we delve into it, there's a disclaimer I need to declaim... I'm not a financial advisor, everything I post here are just the facts in the charts and are for educational purposes. Before you YOLO your cash, do your own research and be 100% sure.
We're jumping first into this chart. #Hive weekly chart- #HIVEUSDT. At the time of writing, #Hive is trading at $0.402
For about 8 weeks, we've seen #Hive pumped crazy to about $0.61-$0.52 area and got massively sold. Hence, the big whicks- even forming a gravestone doji around February 20 or so, indicating a bearish month of March☺( obviously a good buy opportunity). Even last week, we saw a rally up to around $0.53 due to the 3rd year anniversary of #Hive. That was also sold off too. However, there's been some movements lately in the Stochastic RSI which is our momentum. Having the blue 🔵 line crossing the red 🔴 is a bullish momentum and we just had a cross. The yellow 💛 arrow points to the new candle being printed and would close on Sunday night- keep an eye on this.
Also the RSI is testing a support level and might move up too.
Monthly chart
First thing to notice is the blue arrow. That there is a bullish engulfing candle which is a trend reversal- a downward trend started by the gravestone doji printed in August 2022. The trend reversal happened in January, February printed a confirmation candle which some might confuse as a gravestone doji( lol, it's not). The current monthly candle closes tomorrow and #Hive is showing momentum to close this above $0.48 which is cool.
The monthly Stochastic RSI looks positive. Having the blue 🔵 line crossing the 20 level which is keY, you can see the similarity with #BTC on the monthly here. All what's needed to confirm the start of the bull run for #Hive is having the red 🔴 line cross the 20 level too as explained in my previous post. And that could happen in April seeing all the positivity in the chart lately🙂.
In conclusion... #Hive has shown that it doesn't give a shit about the banks collapsing right and left, the coming recession 📉 news being peddled on CT, the blood on Wall Street or fall of stocks. Everything(both internal development and price) looks positive at the moment. I'm confident that we'd close the monthly above the 20 level on the Stochastic RSI or better yet closing the month of April far above the 20 level☺. If that happens, #Hive should be >$1.6 by Christmas 🎅.
I'd be glad to have your point of view in the comment section. Do have a wonderful day🙂. I'll catch you on the next one.
https://twitter.com/1022419805301866496/status/1641272833757028361
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What about fundamentals? Is there a reason why we should see growth. Is there an increasingly valid use case, of more demand?
Of course there are fundamentals. That's for the long term. There's been a lot of developments on the Blockchain, from what I know especially from the Leofinance community and Splinterlands community. There's a lot of potential here. However, these are very important for the long term and it's a slow process.
I talked more on the technical analysis here cus in crypto, price movement is your best advertiser and #Hive has got that covered too.