Good day Hiveians!
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I just thought to throw this out there just to see if it gets confirmed
Five days ago we talked about the two scenarios for Hive. You can have a look at the chart here again:
The blue middle trend line is the key support: if it fails we go down to ~$0.9, if it holds we should go to $4-5 pretty soon. The last days were pretty nerve wrecking (it's best to not get too involved in the markets), as this trend line was extremely "stressed". But so far it has held!
I have spotted a fractal after the fractal shift which I think could hold good predictive power for the short term. So if you are a trader, this might be something to watch out for. Personally I am just going to hold to $5-10+.
This is the fractal which I thinkis playing out currently:
Can you spot the similarities? If it is indeed the same fractal it will repeat in a very similar shape. A movement like this would play very well in terms of the the blue trend line which should act as further support. Price should stay above it and retest it at about $1.6-1.9. Also spot the large spike in the first fractal in the middle of the movement. This could happen again, especially since it has been 6 weeks since any significant volume in Hive. Generally, this happens more frequently, so I would expect some sort of significant price spike of perhaps 30-50% (which, however, could be followed by a large correction). On average the price could follow the green/black path I highlighted.
Now might be a great buying opportunity - but don't spend anything you can't afford!
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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