Crypto Analysis | Hive 10-12 cents?
Good day Hiveians!
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I my last post I outlined two scenarios for Hive: Although the first scenario has already played out, I think we are about to face the second one as well
Scenario 2 being Hive going to 12 cents as seen in this chart:
What I based the first scenario on was for BTC to take a dip (which happened, but it was much smaller than what I would have expected that would be necessary for Hive going this low so fast). This suggests to me that Hive unfortunately is in a weak position. This is evident from the chart: there are no support levels further down (although before the big spike to 1$ there was a low I believe which was in the 12-14 cents area).
With Hive having already reached 14 cents (and BTC being relatively stable), I am very confident that we will see 12 cents soon (perhaps even 10 cents) as I still fully expect that there will be a larger correction for BTC. If BTC goes to 9k or even 8k Hive won't have the strength to sustain current price levels.
These are my scenarios for BTC/USD(T) (read more about them in my post here)
In my opinion Hive is currently undervalued and the current price levels should present great buying opportunities.
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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Wow... Superb analysis, I'm left to wonder how I haven't found this account for this long as TA interests me. For me, I'll wait for the lows to buy more bitcoins or I can buy on ChangeNOW whenever I feel is right since I'm investing it
thanks :)
Hey! Yea Hive's pump to 1$ is just fomo from whales to get double coins from the fork.. And correction all the way back down proves it. As you stated their is no support below us, its a free fall.. I sure hope it will start an uptrend in the near future, but for a trendchange we need higher highs and higher lows or the downtrend will continue. I will only buy on a confirmed trendchange (buy the pullback after a higher high is set) i dont like to try catch knifs it can be expensive.. Btc should hold 9k, we have testet 21weekly ema 3 weeks now = thats buy the dip in bullmarket, if we close weekly candles under i think a prolongen downtrend will start as in history it has done everytime we closed under. Lets hope it holds or breaks if you want cheep cheep btc :p -Chris