Good day Hiveians!
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I have noticed a potential change in Hive's fractal over the last weeks
If so, this would change the way Hive "behaves" in the coming bull cycle top. And I think this would be mostly positive as one of the new characteristics would be a double peak instead of a single peak. Let's have a look... ignore the blue trend lines here, and have a look at the green fractal shapes as well as the black arrows:
The green fractal shape on the left has been Hive's fractal ever since its launch a year ago. With this it was possible to explain most of the price movement we saw since then. You can also see the basic downward movement by the black arrows that curve downwards until a final price correction and then repeat another similar fractal. But at the end of September you can see a shift in this movement. I would suggest that it has shifted into a bimodal peak with a "bowl" correction shape which is exemplified in the two black arrows on the right. Also notice the green fractal at the top.
Let's have a closer look:
You can see the shift on the 4 hour chart very well. Notice the bowl shape as well as the double peak with the second one being smaller that the first. With this fractal having been somewhat well established I think we can use it to make price predictions for Hive.
I think on the 4h chart we could see this scenario play out:
We would see a double peak with the second one being lower at around $2.5-2.9 and this would also beautifully coincide with the long trend line that is still acting as a resistance. We would then revisit ~ $1.4 which would translate to the support coming from the widening channel that Hive has been moving in for the last months.
This becomes clearer when looking at the daily chart:
Hive is still trying to break through the "secondary resistance" which I think will lead to perhaps one or two more rejections. I would expect this resistance to be breached not sooner than February.
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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