Here I am, calling the bottom.
Hive in price terms has been obliterated non-stop for the past 5 months and I'm starting to feel my gut uncomfortable, which is usually a bottom signal.
I would like to share a couple long-term charts and some thoughts. I believe we are very near a reversal and that the bottom is almost in if not already. IMHO 0,1$/HIVE won't happen. Maybe 0,12$-0,13$ in a fast flash crash but there's a lot of people waiting for these already ridiculous low prices which I believe it's not going to happen (hopefully I'm right).
On the other hand staying at these levels for some time is "good" in the sense that people here only for milking rewards are seeing their dollar value quickly diminishing and have to sell everything just to keep paying their bills.
Whatever, weekly HIVE/USD chart:
2 Very important levels; 2021 June wick and low defined a range, currently we are on the low end of this range.
What's my take? this:
We can share a lot of drama but true is that "price-wise" things always could be much worse. Many other alts are in the same situation as us. Difference is that we are cockroaches and more "drama tested" than anyone out there.
In 2020 we entered that range in 21 Sept and stayed until Feb. 140 days. Hype of the early days was dying off and depression was intense.
Same as today.
''DHF Funds"
"We will never recover from this".
"I don't know if power up 100K"
"Nah u fool"
All of this screams to me "BOTTOM SIGNAL".
If we follow something similar October is the month we get out of these 140 days "depression-bottomish-bottom".
Maybe not 1$, but as fast as we went down from 0,3$ to 0,2$ it wouldn't be strange for HIVE to go on turbo mode and go back to the 0,3$ range.
This will happen sooner or later and people will regret not buying more at these bargain prices.
Damn, me and @silverstackeruk bought like mf's insane amounts of HIVE at 0,3-0,45n just to see HIVE price go suicidal shortly after. Still we are there. Holding like champions and following the plan.
There's a lot of truth after the popular say "trust the process". Right now people are very fearful. Usually you should be buying now.
More charts.
Potential "triple bottom" there (still not confirmed, let's see if we bounce there or not) and WEEKLY MACD crossover cooking.
This crossover is something to consider, we had smaller crossovers on Feb of this year which brought us from 0,3$ to 0,45$ and another one in Jan 23 after the bear market BTC bottom which brought us from to 0,25$ to 0,45$.
As I said, smaller ones, but enough to pull up us for some time.
More:
Looking at RSI, there's a "not so hidden" bullish divergence (again on the WEEKLY timeframe).
If the current weekly candle doesn't shit us down, the potential of reversing there is something to consider.
Again, let me mention again that this is a WEEKLY timeframe, which means it compresses data information from many months. This is not a 1 minute chart.
Conclusion.
Hold there stronk fellas. September has always been a shitty month for crypto.
A potential reversal there could pull us again into the 0,3$ range sooner than we think.
I'm more permabull than ever.
Hopefully I'm more right than wrong today.
Stay safe out there.
Thanks for reading.
