Good day Hiveians!
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Over a month ago I made a post predicting 70-80 cents for Hive and then a correction to about 50 cents.
This is what we just saw. Have a look for yourself. First this is the prediction:
This is where we are today:
Of course I don't always get it as precise as this, but sometimes the indicators are very clear. For example, the resistance coming from the trend line seen on the top. So this once again shows that TA does work. It's just that it doesn't always work... 😅
So what could happen next? I would suggest that there will be a stabilization between 40-50 cents before moving upwards again. The fractal of Hive in a bull cycle is clear and is marked in the orange ovals.This should be the basic pattern in the next few months: strong impulse waves with strong corrections. Unfortunately this is the "nature" of Hive.
Where does this put us in the bigger picture? I have suggested that Hive's two fractals depending on the market cycle look like this:
As we are currently still in a bull cycle. this would suggest that we are approximately in that orange circle on the bull fractal (in the top of the chart). We are getting close to the ATH of about 1$ and would then contine to about 2-3$ before there will be a major correction (60-70%!). Have a look:
This is the basic pattern that I am expecting. It is also similar to Steem's pattern back in 2017. So that's why I am aiming for 2-3$ range before the big plummet back to about 0.8-1$.
What do you think?
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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