Crypto Analysis | Heads Up For a Potential 30%+ drop for Hive
Good day Hiveians!
Join me in analyzing the crypto markets!
Note: I wrote this post last night before the 10% drop today (as you can see in the charts), so I think the outlined scenario should work out pretty well. The 2$ Hive scenario is therefore pushed back to the next impulse wave probably in early 2022.
This is a similar post to two months ago when we were at the same spot of Hive's fractal that led to a 50% drop in the price of Hive
Back then, I made a lucky estimate of 16 cents for Hive which happened to the spot (this was certainly luck, but I did predict the movement of that pattern and hence the large correction). I think we are in a similar situation once again and I wanted to contrast the bullish scenario given some days ago which is of course still on the table. However, since Hive has stuck at this price level with Bitcoin moving upwards, I am starting to lean more towards the corrective scenario.
The shape of Hive's fractal has been demonstrated over and over again. It is once again shown here in the ovals. This pattern has a high chance of doing very large corrections (as well as upward pumps). If a drop would occur, it would be big (at least 30%) and would bring the price back to about 40-50 cents.
After this, prices would be moving towards 60-70 cents again, only to head back down to probably 30-40 cents. My point here is that this is a perfectly normal movement. We have been moving upwards starting from 2021 in a volatile fashion, but the linear trend is about 20%/month. This would therefore be a potentially great buying opportunity.
These are the two scenarios provided so far:
Again, with the 10% drop today the blue scenario should be pushed back to early 2022. So I think the purple path should be a good guideline for the next months.
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!
Check out the Love The Clouds Community if you share the love for clouds!
If HIVE drops 30-40 cent, I will buy some.
there is a really good chance that it will. And yes, I will go all in as well ;)
I have tried so many times to recharge but it's so hard for me to analyse charts and I did some trading a little time ago and I had some big loss and since then I have kind of quit trading for a while and I am just right thinking about my decisions and what did I did wrong and yes you are quite right on the charts
I actually gave up short term trading as well. It's just too much of a burden psychologically. I think the much better strategy is to shift towards an investor state of mind. E.g., do you believe in Hive? Does it have a future? Is development ongoing etc.
If so, then don't go all in, but instead buy the dips. Even at 60 cents now Hive is a good buy, but I think there should be a good buying opportunity down to 30-50 cents. It will not go lower than that
i think i do its good coin lot batter then many coins and it has a good future coming
I anticipated a major drop this month so seeing a 30-40 cents level would be a good thing. This would also provide a good buying opportunity for not only Hive but also its second layer tokens.
DEC, SPS and Leo are top on my buying list.
Posted Using LeoFinance Beta
yes indeed! But keep in mind that DEC will probably go up with a falling Hive. SPS will go down with it however
Well, I think investing in Hive if it drops a little is a safe investment and I have kept that in mind already.
definitely will go above a dollar again
Well done! looks great the last chart, leaning towards your purple path. I still see the same thing as in your last update, to form a bullish pennant and breakout EOY :)
Thanks, I kept that in mind and think it should work out; I would expect this to happen in the next months (probably early 2022)