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Hivesignals

HIVEUSDT Hit the 1D MA200 for the first time in 2 months.Hive (HIVEUSDT) hit yesterday its 1D MA200 (orange trend-line) for the first time since August 02 2022. As you see the pattern its been trading in for the past +1 year is a Triangle and recently it has turned sideways as it is close to exhaustion. For a bullish break-out we would like to ideally see a break above the 0.382 Fibonacci retracement level and then target each Fib level above afterwards. A break below the lower dashed line can see the price test the bottom of the Triangle instead. The 1D RSI got rejected right below its 70.000 overbought level. This is what maintains the sideways neutral range within the long-term Triangle and short-term traders can have a field day by scaling. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
3
HIVEUSD Rejected on the Resistance despite the huge rise.Hive (HIVEUSD) has been trading within a Channel Down ever since its November 26 2021 market top. Despite the impressive rise of the past two days, it not only remains within the Channel but also is getting rejected on today's candle on the Resistance formed of the June 07 High. The last time we saw a similar rejection pattern was on April 02 and that rejection started the sharp correction that led to the May 12 low. See how both patterns share the same characteristics of Support and Resistance Zones on double contacts before breaking. Even the RSI sequences are identical. As a result, until the Resistance breaks, the trend remains bearish within the Channel Down. The 1D MA200 (orange trend-line) is falling since early June, so on a 1 month horizon we may see it trading on the Resistance level and finally break, assuming the Support holds. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
BINANCE:HIVEUSD
by TradingShot