Good day Hiveians!
Join me in analyzing the crypto markets!
The beginning of January of 2021 marks the date when Hive broke out of its downward phase
It's important to understand the idea behind this as it is (one) of the key techniques for successful price anticipations: by analyzing the patterns of a trading pair it is possible to roughly understand the way it "moves", which allows one to make basic predictions. This should not be seen as deterministically, but as probabilistic: while the exact pattern always changes with future iterations, this method can give a good indication of what will (probably) happen.
Hive has this fractal:
And this is how it broke out:
As you can see it didn't go to a new lower low. This development can be seen here:
All orange ovals mark the smaller fractal. The last one however has broken out of the downward spiral. From then on higher prices are inevitable. Although price will continue to zig-zag. This screenshot is a rough prediction. The one below it is the actual price movement.
So my guess is that we won't see prices of under 12 cents any time soon anymore. It is especially remarkable that this movement happened when BTC was tanking. In fact, it was one of the only cryptos that was in the green.
We are also getting really close to meet the price of Steem, and it should only be a matter of weeks before we pass by it.
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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