HIVE Weekly Chart
Last year, HIVE price lasted 7 weeks below the 21 Medium Average, as you can see in the purple line below:
I’ve made a circle around the date I’m expecting HIVE to have a significant recovery in the weekly chart.
It’s June 20th. Let’s see how well this post ages.
This year we’re seeing more than 14 week candles below the 21 MA, and another 4 below the 50 Medium Average. Probably due to the huge spike in price a few months ago.
Considering possibilities
To be brutally cold when analyzing the chart, I cannot deny there’s a possible death cross incoming, but that most probably already happened, as the Medium Average indicator is a delayed one. The information comes after it happened, in order to have a better confirmation of it.
Possible, but not expected.
Making A Comparison
Last year the Weekly RSI went all the way down to 44, but didn’t drop more than that, which for me was a surprise.
If everything goes as expected, HIVE should behave similarly this year, The current RSI is 43.29 on the Weekly Chart, as you can see on the first image.
Hive Price
The price is currently $0.5192 on Binance, and I belive it should stay like that if BTC continues to consolidate around 30k.
Worst case scenario would be seeing HIVE RSI dropping to 20 or something, but in this case this would become an enormous opportunity to stack more. I’ve made a Power Up yesterday of 1800 HIVE on average. Time to accumulate, no doubt.
Remember to always make your own research, pathfinder.
May the force be with you.
The future is awesome.
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Why does the price of hive depend on btc that much?
BTC is our “reserve currency” online. Everyone is looking towards btc before making any moves. That’s what a wise trader should do, at least. People are stacking Satoshis, not stable coins….. 1 cent you earn on btc today can be much more tomorrow. Markets paired with /BTC tend to control the direction of /USDT markets and others, unless there are fundamentals happening here and there.
Always keep an eye on btc/USDT, and you’ll start to notice how similar all the other crypto charts are when comparing to btc….. we’re still very early in this game my fella…. Very early. Learn and take advantage of it while you can more easily. Probably we won’t have that much volatility in the future. Let’s see right ? Cheers .
@xmauron3
Well it's true tho and u hope to see that happen hopefully
I believe it's make or break time for BTC. It needs to survive this week until next monday above 28k. If it does, I will continue to believe we are in front of a consolidation period around 30k, similar to what we had on 2021. Otherwise, if btc drops more, i think 23, 19, and even 14k is possible. Anyway we gotta be ready for everything... always keep cash aside if a ridiculous drop like 30% happen in one day. Btc needs to break 32k for more than 2 days for me to start believing a reversal is happening. BTC is tricky with the chart movements, we need to focus on the bigger time-frame and past-activity. RSI is our guide now, and we are on a downtrend, that's for sure. Just HODL.
cheers dude
Nice one man. I appreciate the way you have taken your time to split this.. I understand all you said and it's clear enough.. lets just hope for the best tho.
🎁 For me Hive prices below 50 Cent are a Gift. Will definitely accumulate more shortly. My price target until 2025 is a 5$ Hive.
Do you have a long term target? If yes, where do your see our beloved coin in a few years from now?
Always keep an eye on All Time Highs. If I’m able to save 10% for $5 or more, that would probably be enough, considering some trading if I get this lucky to sell at an All time high or closer to that. $2.20-$2.50 is a reasonable price next year. $5 would be during the all time highs for now and next year, I believe. Hive is rising and growing, that’s a fact. We’re not dealing with a failure or a possible disaster. On the contrary….. ;) take care bro
🙌🏻📈
This might be useful. For me, Livermore’s accumulation cylinder theory is basically HIVE weekly chart. It grows exponentially every year basically speaking. The same pattern…
I could be crazy but my pockets tell me I’m not , and future will speak by itself.
worst case scenario we repeat 2018 or 2020 and get some fresh air to accumulate a lot very cheap crypto.$0.20, $0.30 Hive would be very, very, nice…. Even if we get it for one day only a price like $0.175 would be a dream.
Anyway, Jesse Livermore was a genius trader. Make your research about him. Cheers bro
👍🏻 Thanks, mate. Yes, heard about Livermore. Wrote also books about trading, didn’t he?
Yes, I still want to read his books.
https://courseinstock.com/product/jesse-livermore-the-stock-market-trading-secrets-of-the-late/
This is one of them. 🤘