HIVEUSDT: Day trade Using 15M time frame.
1. Channelled Pattern
2. Buy at the support of 39.5 range
3. Have a stop loss at 39.05 using Fib retracement at (0.88)
4. Fib Extension suggests a sell target 1 at around 42.1 and sell target 2 at around 44.1 levels
5. Profit expected: 7-12%
6. Stop loss at: 1.5%
Happy trading
HIVE
Ascending Triangle breakout for Hive, new ATH's on the way?Hive appears to be breaking out from a Ascending Triangle.
With the Halving approaching in less than a month & China officially launching their own Digital Currency recently, there's Macro bullish sentiment that surpasses the positive crypto environment that resulted in Hive going parabolic along with Bitcoin & Ethereum.
McDonald’s and Starbucks are reportedly part of China’s digital currency trial.
China has rolled out a digital currency trial in Xiong’an, an area southwest of Beijing in the Hebei province, according to state-backed media reports.
McDonald’s, Starbucks , and Subway are the only three American firms among 19 companies participating in the trial.
The People’s Bank of China (PBOC) has been working on a digital yuan for the past few years but has made clear that it has not yet officially launched.
McDonald’s and Starbucks are among a handful of companies taking part in a new pilot program for China’s upcoming digital yuan, according to state-backed media, as the world’s second-largest economy pushes forward with its plans for an electronic currency.
This is the main reason why China propaganda has become dangerously provocative in America.
China is rolling out a cryptocurrency, a lot of the details have not been divulged.
I can tell you the cryptocurrency China’s rolling out will likely be backed by gold . China’s got 20,000 tonnes of gold or more, add the fact they are dumping U.S debt & treasuries at an alarming rate, it's plausible they'll bring back a gold standard for the new century.
Hive-Backed | Hive Dollar OverviewAbout Hive Dollar
Hive is a Graphene-based social blockchain launched on 03/20/2020 with the core idea of decentralization. Hive's prime selling points are its true decentralization, speed and scalability. Other notable features include it having the lowest entry-barrier for user adoption in the market, time delay security, integrated token allocation, and the upcoming Smart Media Token integration. It is an ideal building location for a variety of innovative projects focused on a broad range of fields, from open source development to social games. Hive aims to be the preferred blockchain for dApp development.
Source: Coinmarketcap.com
Website: hive.io/
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If HBDBTC closes above the black dashed line, it can easily continue higher.
The long-wick is a bullish signal.
This is only confirmed when the 4H candle closes.
This is not financial advice.
Namaste.
Is Hive trading in a Bull Flag?Possibly a descending triangle as well, but the RSI is fairly low on a 1 Month chart which indicates there's room for appreciation before becoming overbought.
One thing I find very interesting is the fact that Hive has traded 321,456,046 shares in the past month, keep in mind Hive only has roughly 327M shares outstanding, huge volume surpassing the 2017 parabolic rise but the share price didn't increase 1/5 as the previous Bull Run.
On a positive note Hive is gaining back its correlation to Ethereum, technically during the past month Hive has outperformed ETH which is interesting. ETH is the Grey line & Bitcoin is the yellow.
HIve, GLXY, Hut 8, Bitcoin. ETHHere's a 1 year chart comparing Bitcoin in the yellow, Hut 8 in the Red, Hive in the Green, ETH is the Blue Line & GLXY the Purple line, the 200 Day MA is the Black line.
It's possible this parabolic rise in Hive is correlation coming back between Ethereum & Hive, it would possibly explain the uptick even when ETH is red.
Time to rally $ETHEthereum has been struggling this past week, however it is maintining a larger upwards trend, even now over the weekend, there has been no serious dips. Still want to see it pick up some speed some time soon, and if the larger markets decide to take another run downwards, that could be a catalyst, but we never know now do we :) I'm Long in $HIVE.V as my crypto play, and will stay there as long as $ETH stays the course.
Ascending Triangle or Descending Triangle.It's more than likely the descending triangle plays out with Hive, unless clarity on the situation with Genesis happens sooner rather than later.
Even if Bitcoin & Ethereum continue the upward parabolic trend, Hive has lost some or basically most of it's correlation to the two assets, which at one time was "roughly" 94%.
Time will tell per usual.
MFI in the WAY oversold region , Major Andre trigger support#hive MFI has only ever been in these number two other times in the companies recent history and is quite over sold at least for the time being, the 0.46 level has held for the past few days with a static support of recent floor and also the Andrew fork trigger line support (im yet to see this trigger fail) , with last nights break out on #BTC and the company CEO being more and more vocal all over youtube, next few days may be interesting, however more risk averse play would be hold of till the main trend is reclaimed and prices solidify over the 0.6 marker.
Key levels being tested for Hive , make or break pointFollowing the dispute news between Hive and Gen we saw a 24% decline today which from a technical stand point only did the much needed pull back to the broken major resistance of BTC 4300. Should we see the bottom channel support I think it will be evidence that the trend has not reversed. Also there is some major static support here as well. #hiveblockchain
Hive still trading above Ascending Triangle breakout.The uptrend for Hive is still intact.
Hive broke through two channels with news yesterday about Genesis attempting to take control of the board.
I think now that the market has had a chance to shake weak hands, we may start to continue the uptrend, as long as Ethereum & Bitcoin do as well.
Time will tell per usual.