src: hivewhat.com/charts
Hi, hope you're having a great day so far!
It seems my Possible HIVE Cup & Handle was really an Ascending Triangle Pattern developing all along.
What's an Ascending Triangle?
The ascending triangle is a bullish pattern that is one of the easiest to trade on in most markets. It develops as a rising lower trendline and a flat upper trendline that acts as resistance, which will likely become support after a break out. It means that buyers are more aggressive than sellers as price continues to make higher lows. Just about what I've been saying in my recent post (HIVE Breaks Downtrand) about HIVE sellers slowly drying up.
Textbook Ascending Triangle Pattern:
The trend usually completes itself when price breaks out of the triangle in the direction of the overall trend. Extremely bullish.
So bullish in-fact, I'm listening to We are The Champions in the background (the Mighty Ducks version)....
😅
Am I celebrating too early?
Will we re-test the upper flat line? Very likely, we may even fall below it. Nothing is guaranteed.
I may be wrong, but I strongly believe that if it wasn't for the account freezes on Steem deterring power-downs; the last HIVE dump may not have been so severe. Hence, the accumulation by so many Hivers this past week.
We know the fundamentals are sound and the majority view .10c HIVE as a discount. This is good.
It's good. But, it's NOT financial advice. 🙂
Peace ✌️
Technical Analysis isn't an exact science, imo it's a mix of hindsight with a sprinkle of glorified pattern recognition. If you're interested in HIVE Charts, Technical Analysis Indicators and Oscillators; check out the charting tools available at HiveWhat.com/charts
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- DonaldPorterJM