The Bullish Pattern Is Getting Stronger (Follow Up The Previous Post)
If you remember, four days ago I did a Hive analysis, and in that I told you that "Hive could be preparing for a bigger move". In a detailed post I explained what the reason is that Hive is currently bullish and why this bullish momentum will continue.
I explained that in the next few days, it is possible that Hive’s price will try to test the 200 EMA on the larger time frame and after testing it there will be a rejection from there.
But this bullish momentum will continue and this time the candles will start a proper bullish pattern by giving a closing above the 200 EMA.
Today is Sunday which is considered a weekend day but for Hive, it is a calm day and it is doing a good job 😉. Hive is bullish and while continuously pumping it has touched the 0.05 mark and right now Hive is recently trading above 5 cents which is good news.
If you want to read more about my previous analysis click on this link
where you will understand my previous content properly and then try to understand this content.
As I have shared some images you can also see the comparison between Hive and Steem. Early this morning we saw a good pump in both coins but this time the pump is somewhat different.
Steem has moved almost 44 percent while Hive has made around a 19 percent upside move.
This pump is different this time because previously, a kind of spike would form and after that it immediately cool down within one or two hours and come back to its base level. But this time it is not like that.
Every candle closing is strong and it is happening with a good body closing which is a sign that it has entered proper bullish momentum.
Now, no one is trying to manipulate it. Instead it is pumping because of proper buying and this type of pump is more solid.
The disappointing thing is that today it should have been that Hive would pump more compared to Steem but the opposite happened.
Steem is looking more bullish than Hive. but no need to worry because Hive is slow and steady while it is pumping very strongly.
9.3 Cents Could Be Next
And if you check the second image I have shown another picture where I have properly set three TPs. It is possible that in the next 48 hours the first TP will at least be hit and it is possible that within this week Hive will also reach its third TP.
What I have shown is that its first TP is around the 6 cent mark, the second TP is around 7 cents and its third TP is around 0.093 which is very possible to be hit this week.
Because before this I also explained in my previous post that a higher low and higher high formation is being created. It is a clear bullish pattern and there are good chances that this time it will continue for quite a long time.
200 EMA — Rejection or Breakout?
Similarly, if you look at the third image I have shown the 200 EMA where our second target is the 200 EMA. Most likely this will be hit today itself and there will be a rejection from here. But because the formation is strong it may even cross the 200 EMA.
This is a very long term 200 EMA where Hive’s candles unfortunately have been trading below it which was showing a strong bearish formation.
But now the good thing is that Hive’s candles are very close to the 200 EMA which is now indicating that the trend may be changing.
Therefore if there is a strong candle closing above the 200 EMA Hive’s price will easily hit its third TP as well.
Today I will watch the chart carefully and I will keep an eye on every move of Hive. My focus is on both Hive and Steem because I want to take one as a long and the other as a short.
NOT A FINANCIAL ADVICE
Fingers crossed. Let’s see. Best of luck.
I hope you guys will like this post and is interesting as well. If you find it informative then dont forget to give me a support. Share you reviews in the comment section below. Thank you all for your time reading the content.
PICTURES DETAIL
| IMAGE SOURCE | 1 |
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| EDITING TOOL | CANVA |