Potential Breakout

That was a nice pop and it does look like it could carry through and be the breakout. Everything is on the chart and I most likely made an error with my Elliot wave. Final Note, I do not short Hive and only do long swing trades, just easier and safer with hive. Plus I have a decent size position so I rather it go up then down and today was good. The indicator on the bottom is the Paraeye by kingstevieb and it is good for confirming breakouts, tops and bottoms.

Note

I see a lot more positive signs at the higher time frames but there is a lot of resistance at the $5 zone, definitely needs to keep the momentum during Monday and Tuesday. Once it pushes through $5 a revisit of the ATH would be expected. If it pulls back from $5 I would be looking for $4.50 as support and if that holds it's game. next week will be interesting.

Note

Comment: At the moment both counts are valid. The blue Elliot wave count means the pump on Friday is the beginning of a new impulse wave cycle. The yellow Elliot wave count would mean that there could one more leg down and the descending triangle is formed (good way to scare into selling). Basically need confirmation before entering a trade short or long.

picea13

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picea13