Crypto Analysis | Small Breakout For Hive
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Following The Fractal Pattern
It's clear Hive hasn't exactly performed well recently (or overall actually), but we are in for a small breakout to at least 23-24 cents in the coming weeks. That doesn't sound too exciting and it isn't. But I have learned to be conservative in terms of what to expect from the market. DOn't get me wrong, a bigger move is around the corner, but for now it seems that price isn't going to go parabolic just yet. Instead, price has followed a fractal pattern almost to the letter which I have shown in this chart:
Wave "D" has now been completed and it looks like we are heading into "E". Notice how the downward trend from "D" to "E" has been completed.
So far so good, at least of seeing the pattern getting confirmed. In the bigger fractal we see "E" as two peaks with the second one being higher than the first. This pattern is therefore in reverse compared to "B-D". This shift should mark a mode change for the fractal overall: I am expecting yet again a smaller peak and a much bigger one which should give rise to the parabolic peak at the end of this year. As pointed out earlier this should be at around $1.
We can see what is about to happen when we zoom in: price is about to break the 9 month resistance.
Conclusion
It's somewhat of a boring price development atm. It certainly seems like Hive is following in the footsteps of the larger fractal. The big chance and hope is for a parabolic move starting at around November (like always). The movement will probably last 1-3 months and everybody should probably sell at least a portion of their Hive here. In the worst case it's 3-4 years of bear market after that. But I am hoping for a second peak in 2026. We will see soon enough!
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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I am looking forward to the peak season for Hive
!BBH
indeed! Although I had previously hoped for $20+ 😂
I'll take a bump here and there!
and maybe even take a some "profits"
Its back to $0.2
The breakout I mean is the one from the 9 month resistance trend line. I am 90% sure it will be broken in the next days
I am waiting HIVE to land on 0.16 again
I guess it's possible...
I think it's great that the 9 months resistance is about to be broken and there's a bit of a long way before the next resistance around 0.46. Still accumulation phase I guess?
I guess so; the accumulation phase is exceptionally long this time (as is for most alts). But it seems like there might only be a short window for when we can take profits.
In theory, the short window could be intensive in terms of price action given the exceptionally long accumulation phase, I think.
I was expectig the price to drop below 20 cents and already placed some buy orders but till now its not there. I unstaked my HBD also for that so lets see if that happen or not