ABC Correction ?
Updated
I apologize for last few charts, titles can be misleading and my objective is to provide insight to what I see and hopefully help folks out and the head and shoulders thing was just me looking at charts and if it did playout it would result in about the similar results what I have identified on the chart. In no way is this advice just me working on my analysis and sharing my map of HIVE price action and what might happen.
So, yes, immediate term HIVE is Bearish (4 day time frame and lower, but weekly is bullish and will show later) and I believe HIVE is going through a ABC correction for wave four. and HIVE is in the process of completing the final c leg before the start of a new wave A. Note that I apply the Harmonic Elliot wave theory, just makes mapping wave 3 easier (for more insight this fellow does an excellent job explaining the theory. medium.com/@castawaytrader/nitty-gritties-of-the-harmonic-elliott-wave-theory-that-make-it-a-superior-trading-tool-c4f5bb8f27a6
This correction is occurring for all miners and is not related to the company, which has excellent fundamentals. This is not the beginning of the bear market, and I believe Hive has a least one more leg-up and is bullish long term. I will provide more charts today.
So, yes, immediate term HIVE is Bearish (4 day time frame and lower, but weekly is bullish and will show later) and I believe HIVE is going through a ABC correction for wave four. and HIVE is in the process of completing the final c leg before the start of a new wave A. Note that I apply the Harmonic Elliot wave theory, just makes mapping wave 3 easier (for more insight this fellow does an excellent job explaining the theory. medium.com/@castawaytrader/nitty-gritties-of-the-harmonic-elliott-wave-theory-that-make-it-a-superior-trading-tool-c4f5bb8f27a6
This correction is occurring for all miners and is not related to the company, which has excellent fundamentals. This is not the beginning of the bear market, and I believe Hive has a least one more leg-up and is bullish long term. I will provide more charts today.
Comment
Comparison of the top minerstradingview.com/chart/mxkelXzK/
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