PSEi Review (as of November 22, 2024)
PSEi still remains to be an Avoid for me. There is already a break on the MACD trend line and prices trade below the kumo cloud indicating huge resistance at the 7k region. It needs momentum to be broken so the likely behaviour would be a sideways trend. The market can still absorb around 5% drop (~6400) before we can say we're going to bearish territory.
Hive and Crypto Market
One chart I got interested in was actually on Hive. I should have been more bullish and bought as much as I can immediately.
Indicators:
- Trading above the kumo cloud
- above the 200 EMA
- positive MACD
- bullish flag pattern
The cheapskate in me was trying to buy Hive at a price close to the 200 EMA line. At that time, prices were near Php14 and there were some Hive for sale available. Especially if I needed volume, I should have just bought any liquid coin (i.e. SPS or DEC) via P2P and convert them myself. Hive is now around Php16-18, could've been a paper gain of 14-28%.
Of course, hindsight is always 20/20 and would just consider this as an opportunity cost. This is also one challenge in crypto trading when the trading fund is not ready (need to convert from fiat). At least the pick was right, just move on and look for the next one. Also, this is just the first flag breakout, and the chart is still looking good. Crypto in general.
In a bullish market like crypto nowadays, it's just a matter of picking the faster horse. The tide raises all ships anyway and everyone's a genius by just riding the wave. Maybe I should be looking into crypto than stocks then, at least for now.