Hive repeats bullish pattern.
We will see
The price of Hive had already risen several times above 1 dollar and the price and corrected but since yesterday it has risen touching the value of 1 dollar and each time it got closer to exceeding it today already 2 times.
At the time of making this article it is above the dollar
The price could re-form an ascending channel as it has in previous cycles
If you want to see that analysis this is the link
Previous analysis link
This has already been done before, I have identified an alicist pattern, which Hive is repeating
More than a month ago I did an analysis of the price of Hive, and how it was repeating a bullish pattern of 4 moments
The four moments identified are:
1- The price generates a candle with wick that breaks the canal. Marking a higher price
2- The price returns to the bottom line of the channel, support line.
3 - An ascending cycle begins where the price forms an upline. The price can perform a false break and returns to the upward trend line
4 - The price breaks the channel at the top, the price increases its rise and in a few days it generates a candle with a wick that marks a new maximum (moment 1).
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We are at moment 4 of the bullish pattern
Today, the price of Hive may be at the moment 4. The price is rising from the uptrend line, exceeding the value of the dollar to 1.2 more than 40% a few hours ago and then corrects. But the trend continues strong.
Today it should stay above the dollar. to confirm the moment 4.
News
What the Hive price is doing is a price construction around the dollar.
If you analyze the chart you will see that the price exceeds the dollar in cycles of shorter time, creating an upward support of the price, that is good in an upward cycle.
Chart of days exceeding the dollar
When the price retreats it does so until it supports the uptrend line, another good bullish data.
If Bitcoin continues with its correction, the price of Hive could return to lean on its uptrend line closer and closer to the dollar
New bullish price wick
In the coming days and weeks we could see the bullish Hive price continuing in search of reaching or exceeding the value of 1.5 dollar (confirming the break of the channel, current moment 4) and starting a new moment 1 of a new bullish cycle .
Conclusion
It is key that in the next few days the price of Hive remains 1 dollar.
How far can moment 1 of a new bull cycle go?
In general, the price tends to move in ranges.
If the price of Hive exceeds $ 1 and consolidates incrementally to 1.5, the next price target would be to exceed $ 2.
What do you think the price of Hive will continue to rise?
Will we continue above the dollar?
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