So I was wrong. Where to go from here. Hive-USD

in LeoFinance4 months ago

I was wrong. A lot.

I bet on Hive moving in the general direction of a new ATH and it...didn't. Not yet anyway.

It only did a very minor move upward, not even reaching a higher high, and then retraced back down straight into a downward channel.

Screenshot_20210216_203531.png

It's doing that move downward with next to no volume. It has tons of buys listed, and now a few sells, but no one wants to buy or sell into the listed orders. So it just slowly moves lower.

I kept expecting it to turn around at any moment. Kinda like with the crash forever ago. You keep expecting it to go lower, and no one's buying up into the orders so you can set a sell limit to buy lower. You gotta just bite the bullet and sell into the buy orders and hope it hits your lower buy ins.

But I'm still up. Partially because I bought in at dips way at the beginning of that movement upward, and partially because I had buys set at various points lower for any moves downward.

Always hedge your bets.

Doesn't matter where you think it will go, you gotta have buys listed for if it dips. If you don't, eventually you'll be sorry you didn't pick up $100 or whatever at $0.02, or wherever it goes.
So when it dipped to 0.26 I was already up quite a bit, after selling a bit near the peak, and buying a bit more as it went down. I wish I had set my buys better though.

I just keep waiting to recognize some kind of trading signal.

But even tho I bet on Hive going higher, trading is not betting. There are recognizable movements and data to look at and determine movement. And if worse comes to worse, I have a ton of Hive that I can hold until it returns to these levels, or even higher. Or just power it up.

If money weren't such a precious commodity I'd power it up. But then, if it weren't would I even be here? That's why I joined Steem so long ago.

I'm still betting on it going higher. That hasn't ended. I don't think this is it. It's not gonna just spike this high and no higher, returning right back to where it was. At least I don't think it will.

This is betting though. Because I'm not relying on some trading pattern or anything except a fundamental belief in the asset and that eventually it will go higher, and should be higher than this.

Hell, even Steem is higher after those shit nuggets pulled that utter crap that in my opinion devalued the entire crypto sphere, made Binance untrustworthy, and proved that we need to be a hell of a lot more careful about how code changes are approved. Perhaps Hive needs to move beyond that to truly prove it is worth more than Steem.

From here I just need to watch the market, decide when to sell, when to buy, when it'll go low, and when to get high.

Buy the dips as they say.

Like trying to catch a falling dagger.

I set my buys and hope I did it well. Sometimes it's easier than others.

Not trading advice, I'm obviously a moron who can't read the market and had no idea it would enter this stupid downward channel.

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The price has been bouncing off the 7 day moving average over and over on binance for the last few weeks.

https://www.binance.com/en/trade/HIVE_usdt?layout=pro

we still one penny higher than the average.
give it a few more days.

Posted Using LeoFinance Beta

Yeah, I'm not ready to pull out yet. I still have lower buys it didn't hit that I've been readjusting. Hopefully some whale will dump their earnings before it goes up.
It's also started to reverse itself a bit, but I can't see any recognizable pattern yet.

Oh, which average? I often just use the Bollinger Bands, which are very helpful to trade off of.