Good day Hiveians!
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We finally did it, we are in the next impulse wave :)
In out last post we talked about Hive breaking key resistances. Since then Hive has been trading continually above them. Even last week this seemed inevitable:
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:
With the breakout confirmed, we can now fairly safely say that Hive has entered the next big impulse wave. What I mean by that you can see in the next chart:
There have been two (three) impulse waves in the past (seen here in green), which were followed by big corrections (shown in red). I am expecting this impulse wave to last until June-August of this year. As you can see the upward potential is pretty big with the major resistances at $5 and $10.
Possibly, it could look something like this:
This is based on the last impulse wave seen in the ovals. Of course it won't repeat exactly like that, but I think it will follow this basic shape. However, along the way there will be big corrections, possibly up to 50-60%. So don't get spooked out ;) Notice that I marked the waves as 1-2-3, this is because I have been arguing that we are in a 3 wave bull market.
There is a bit of a caveat, however. I have noticed that the volume so far has been very low. We have so far not seen the huge volume spikes seen in all of the previous movement. Nevertheless, we got a big upwards push without it. Essentially, this means that we won't see the extreme spikes seen in before, but increased volume could of course return. I always wondered if this was due to only several actors pushing the price; if they lost interest in Hive this might change the shape outlined here quite a bit.
Last, but not least a detailed chart for Hive. This is confusing and I only post it here to give you some idea how prices could move in the short term (high error bars!)
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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