Good day Hiveians!
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Last week we got the exciting pump to $1
After having successfully predicted this pump we then had a look last week what could follow. If you know how Hive "moves" it doesn't get too difficult to outline the most likely scenario(s). And in that past I gave the following outlook:
How successful has this outlook been?
I think pretty good so far: we had the exact low of 55 cents and the anticipated run up to a higher level. I had expected a target of about 67 cents and so far we got a whisk to about 64 cents, so in that regard Hive has under performed a bit. However, there is still a chance for a quick run up. After that I am expecting a "crash" to about 50 cents. However, if we don't get the 67 cents we might also bottom out a bit higher as well.
All in all, I think this shows how successful fractal analysis is. We can predict the rough shape, but not exact price targets with it. Note that we could also have gotten these kinds of movements and still have a confirmation of the fractal:
Of what I am quite confident is that there should be one more bigger correction down to ~50 cents before again moving upwards again. The bigger picture is still on track to something line this as posted before (although the correction was a bit sharper):
1 Million Buy Wall
I have noticed for quite some time now (at least a week) that there is a massive buy wall at 30 cents on binance. One person is trying to buy almost 1 million Hive.
This seems rather strange as whales normally don't just leave big orders like this on the market. 30 cents is also way too low of a target (I think Hive won't ever go this low again!). But it's nice to see such a massive support at this level anyway, although it can easily be cancelled at any time. Maybe it's a well known whale on Hive? ;)
Bigger picture
I also still see the bigger picture as shown here:
I think a bear market rally will take the whole crypto market higher for the next 4-6 weeks. For Hive this might be a stop at $1.6 before heading back to about 60 cents only to then finally perhaps tackle $10 sometime in Summer/Fall of 2023.
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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Hearing what might likely be hive price in 2023 summer fall, make me feel good, hive price deserve higher trend.
Awesome prediction.
we'll see soon enough ;)
That's good to hear
I'm hoping to see Hive go back down to 10c again however upon reading about the 1M 30c buy wall... I might wait a little longer until next year if what you said will take place. I'm not saying that Hive's fair price is 10c, I'm saying that I would like to buy the Hive from those who will cash out next year during the bear market ;)
Thanks for this update post.
I really don't think Hive will go even under 40-50 cents anymore - I mean literally ever. There has been an upward trend from the lows from ~10 cents to ~16 cents to ~32 cents. But maybe you'll get lucky ;)
Oh no... on 2nd thought... oh YES! 😅 Our post earnings will have a better dollar value.
I believe you on this. Compared to other Altcoins, Hive is holding up much stronger.
If bitcoin price dump we should see same thing happen to hive too, a buy opportunity is coming
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for a big dump that is always the case, but Hive often rallies in a red crypro market
Wow! What a prediction! Hope they are all going to become reality!
Interesting analysis! On point.
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That 1 million buy wall is really impressive, maybe it's a move by the person who placed the order to push the price upwards by showing people there's that huge interest in hive and stuff.
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