Hive Technical Chart Analysis for April 6th 2020: HIVE PRICE - 0.39 USD
In these posts we will analyze the technical charts for Hive at the time of posting, usually around late morning Eastern Standard Time. We will focus on the daily and hourly charts to get early indicators and a good idea of where the market is going.
The Daily Chart is on a Buy Signal.
The bullish engulfing patter is still suggesting a short term low with a likely-hood of the price to rise over the coming days, however on the hourly chart we can see more clearly that the market wants to consolidate further and the price is likely to move towards the box on the map before heading higher.
The Hourly Chart is Neutral.
Again we were correct in yesterdays forecasts seeing the price rally on the hourly chart up to .44 cents. Bulls were hoping to see the rally continue past recent highs of .48. This did not happen. The price regressed back to the support area of about .39 which has been holding for a while now.
We can see the market consolidating in the predicted support area on our first report two days ago. The longer the consolidation the stronger the break out will be up or down.
We are expecting the price to consolidate further. Soon enough it will run into the rising support line which may be a catalyst push the price higher. Those fundamentally bullish on HIVE may want to take a half or whole position here. Those more cautious may want to take a half position or wait for a further pull back to stronger support at the .30 cent area.
Trading involves risk. Past performance is no guarantee of future performance. Do your own due diligence before investing.
Chart from: Tradingview.com
Not sure if this is a good idea buddy :D They often censor and blacklist authors who write about the "H" thing here on Steem :D
Looks like they took down my last few post. I guess that was a bad Idea. Didn't know they cared so much. Looks like I'm done posting that here. Hope they don't do anything else to me.
Hey, I missed your reply. Thanks, I'll certainly take it into consideration.
Sorry about that man but no surprise for me... I got some of my posts removed too and there are many authors here who have actually been banned from the chain forever (the new "government" took control of all the nodes, which means they basically control all front ends and thus decide who can do what here). This place has nothing to do with Steem as we remember it, sadly...
You certainly have a better understanding of what is going on here than I do. Thankfully they have not banned my account, so in that regard I'll just keep doing my travel posts here. Very interesting how things have changed.
Yeah. For the worse, unfortunately... Funny how they still use the word decentralized so often here, given all the censorship and everything going on here... Whatever, we have the "H" thing now as our virtual home ;)