Crypto Analysis | Hive Pumped - Or Did It?
Good day Hiveians!
Join me in analyzing the crypto markets!
HBD pumped to over $1.6 and Hive has been "stable" in a red market
But before we start off I think this chart which I posted some weeks ago deserved a bit more attention. It has of course not perfectly predicted price, but just look how close it came to the actual price. For about 10 days the chart almost perfectly predicted the price; just the stronger correction to about 50 cents has not yet happened. Nevertheless the shape has already been replicated just as expected.
Today the crypto markets are red again with Bitcoin going down almost 8%. Looks like the symmetrical pattern I talked about is happening after all. Hive has so far held remarkably well still being at around 59 cents. The anticipated pump of some days ago has somewhat traspired with the HBD pump as well as the increased volume we are seeing in Hive. It's still unclear whether Hive will get sucked into the downward action or "prevail" and continue the pump (look at the volume for the chart above). Hive has so far always pumped in a red market. So the downward action in general today is not necessarily worrisome. Although I have noticed that if Hive does not uphold the upward momentum is crashes much harder than the other coins. If that happens I would still expect a bottom of about 50 cents. Just as anticipated above!
The current outlook looks like this:
The green scenario would turn this downtrend into a strong pump; the purple one would see a revisit to about 44 cents and the blue one is in the middle. However, a further correction to sub 50 cents seems very unlikely as Hive is in a general meso/macro upward trend. Also, with today's correction to sub 56 cents Hive has actually completed its fractal. Often this indicates another upward phase.
But don't forget that this is also a very important price area for Hive currently. On the weekly chart we see Hive knocking on the resistance of the previous highs as well as the horizontal divide. Since we have already broken both of these on the daily chart I see the upward pump scenario as more likely.
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!
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Hive is still holding 0.5 cent pretty well and if Btc falls harder 0.4 cent seems inevitable
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On your next pump, wait until Hive is over $1.20
I have noticed that sometimes hive make more then 50 % pump than it come again the the previous price within few days. But i never figured it out the reason behind those. Pump. Do you know what it happened?
I actually think it might just be a small group pumping the price (i.e. some whales) as opposed to many smaller accounts. But I would like to know as well ;)
The Hive I think is the only thing that is holding strong, everything else is down as a result of BTC and if you look at the Hive/BTC, you can see that it is doing very well and very strongly.
I would expect a bounce at $0.5-0.48 if it drops a little more.
Been closely following your analysis for a while now and find it a reliable source of opinion about our coin’s potential for trading. Playing around Hive-HBD swapping is fun since I consider both coins as assets in Hive ecosystem 😅
Of course, I’m also on the watch for the Hive pump to take advantage of doubling my tokens by simply swapping between the 2 tokens. 🤩
I need to get better at this..
thanks :) I'd always keep some HBD and Hive liquid as they are both quite volatile