Good day Hiveians!
Join me in analyzing the crypto markets!
Just 9 days ago "Hive was doing it again"
I was referring to Hive moving upwards in a red market. Since then Hive moved first lower, but has now broken pretty much all major resistances. This means that there is a really big potential for the price to go up quite a bit over the next few days. Last time I showed you this graph in which you could see Hive spiking beyond the resistance trend lines keeping price down. This is the same thing we saw in the last big impulse wave in July/August of 2021.
Hive has now sustained the breakout level (it has been trading above all major resistances for several days) as you can see in this chart:
This is a really big deal! Look at the first chart in the left corner on the bottom where the last resistance trend line intersected price. Once it broke free of it, price spiked above it sustainably and set the big impulse wave in motion which catapulted Hive to ~$3.4. The longer Hive stays above this resistance level the more likely it will be that we will see something similar again. I can easily see a ~50% increase over just a day or two, bringing us back up to ~$1.4.
The point is that we are probably in the next impulse wave now. In the next chart you can see the alternating phases of corrective and impulse waves.
If so, we are exactly on track to the scenario laid out before. This would put us bewteen $5 and $10 sometime in summer of this year.
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!
Check out the Love The Clouds Community if you share the love for clouds!