I like them because there is no need to draw lines all over the shop, they are already there :)
I'm crazy for line drawing... but where do you draw the line... with drawing lines? Sorry, couldn't help myself.
Check out this bad boy 😂
Looks like complete chaos, but I've been having success with support and resistance type trading based on the Fib levels. Much of the mess of lines on that chart are just cause I'm a lazy bugger and can't be bothered removing the ones from the last 4 weeks.
P.s. gotta love a golden cross... but what about the dreaded death cross 😨
Not to be rude good buddy, but the above looks like a right mess! 🤣
If it's working for you though, don't change the system. Is it confirmed then, are we off to the races?
In all honesty, here is the problem IMO. There is not enough chart history for hive to analyze it easily in regards to TA. This is the bittrex chart and it starts with the fork around 21/02/2020.
Against BTC it is all downwards momentum. But zooming in on the daily chart, we're just about to break above the top side of the bolinger bands.
Sustain above it for a week or more and we're off to the races.
The weekly tells an interesting story as well.
We've never been above the median mid level of the bands, but we're close. If we break above (at around 702 sats) then hive is doing something it has never done in its history. Make of that what you will... I'd say that sustained rally above 702 sats = bullish long/medium term.
🤞 ... and that is the end of Raj's armchair technical analysis 😂
Looks top notch to me :)
11 months or so isn't huge on the timeframe, but enough to get an idea I think. Also, STEEM (the shitbag) looks good on the charts, a similar situation to HIVE.
Out of principle though, I'm not trading there. To the armchair, with wine :)