Always take in consideration non of this information is financial advice or official announcement from any specific project, I’m no financial advisor, trader or expert, this is just my personal opinion on certain project mention on this article, cryptocurrencies are extreme high risk assets and you must do you own research, never follow what I or other people say on internet
HIVE PRICE ACTION LOOKING BETTER - WHEN CRYPTO MARKET TOP
At this point in time I have to say that HIVE cant be compare to any other social network platform, currently has every single feature you can ask from traditional social networks and crypto social networks that you can find, all this are within the HIVE network on their different communities
Within HIVE there are nice communities for almost anything you can think off, there are also other games and DApps (Decentralize Applications), I sure there are way more but this are the ones that come to my mind, also can check https://hivedapps.com
If you are interested to participate on HIVE is very simple here a link to a tutorial I create , takes less than 10 minutes and its free https://cryptoxicate.xyz/how-to-create-hive-account/ and if you are dedicated can profit from the price of HIVE at the same time by creating content or been involve in any of this other platforms within the ecosystem.
HIVE PRICE ACTION VERY BULLISH
I remember calling this 4 months ago when I bought a chunk of HIVE at $0.11, two things I remember from this article
Hive Accumulation Phase - Price Settles
@cryptoxicate/hive-accumulation-phase-price-settles
I'm not market wizard at all, just someone who likes crypto and is constantly learning everyday from my mistakes and those tight situations in trading and investing, trying to avoid those
HIVE/USD 1M Chart
Right now the price action of HIVE looks so bullish across all charts from 1m to 4HR, I'm only going to look at the 1M and 1D since for me HIVE really is not a short term investment, I'm also getting ready a bag of USDT for that moment where we can buy HIVE at a discount, to be clear there is a difference between discount and getting rekt so get "why so bearish", I like creating content that is helpful for others with a clear perspective I don't sugar coat things on my content.
If we look at the 1M Chart above we can see how its encountering resistance at $0.80 but I don't think it will be a problem to beat that level since it was just the wick from April last year when market open, you had all the dumpers from the HF and that sell pressure is over, right now probably some whales taking profits and that's fine I don't see anything wrong with that. At first when the price start to move up I didn't like it that much and we can see that on the 1D
HIVE/USD 1D Chart
There were some +70% daily candles week after week that kept getting rejected hard at the $0.40 range for me that was an indication that there were TONS of sellers on this market and a small group that was trying to move the price and even though the price kept going up I didn't jump in on the trade because it was risky, small markets go up fast and can also go down fast, I'm not calling HIVE a small market like its starting but compare to others it still but its growing at a very fast pase, then last month we had this massive 98% candle that push the price to $1.00 on BITTREX to then retrace only to $0.80 that is the price where it is atm, with how bullish the market is IMO HIVE can get to $1 again before July at least and that's my worst case scenario. I'm just enjoying the trip waiting for the right moment to jump in and probably will be next year to be honest, I'm happy with the amount of HIVE I have right now but would love to buy cheaper HIVE, probably when the bull market is over despite the price. Average up is very risky on a bull market and as I mention the amount of HIVE is enough for me, most altcoins drop at least 75% of their value during bull market, considering HIVE is only at $0.80 it could go to $3 on this bull market cycle to then drop when the bear hits as any other asset does that includes Bitcoin, Ethereum, Caradano, Tron, there is no crypto currency safe when the bear hits.
WHEN CRYPTO MARKET TOP
Market tops have very similar situations, things that make you feel you are not alone on this trade, there is just too many ppl and probably time to be careful, I'm not scaling into any long term position because we could start to get into that bubble territory, lets take a look at BTC price action.
BTC/USD 1W Chart
2017 Bull market really started in May 2016 went from $440 - $785 and that was the spark, a 75% increase to then brake out on December 2016 and from there it kept going up non stop, similar to what happen last year where Bitcoin start to stablish above $9k drop a few times then move higher to $11k then something that no trader or analyst can predict happen CORONA came to the scene but the gears were moving before so it was a great opportunity for anyone who knew that was the moon shot opportunity, I did buy some but not enough since it was my first time experiencing a situation like that within a market.
On last bull run we saw the price going up for around 539 days but real volume started to appear a year latter on May 2017, then for about 217 the market went up like crazy every single month. One very simple indicator for me is the MACD and has been efficient enough on high timeframes like 1M, 1W, 1D.
BTC/USD 1W Chart
Timing the market is very hard and requires a lot of talent but you can exit on the bounce, calling tops or bottoms is not the trading I'm trying to apply, I'm trying to be prepare to what may happen based on previous and current data.
We can see how on the chart above there were several signals written on the chart
BTC/USD 1D Chart
Final confirmation of bear market came on January 18, 2018 when for the first time a daily candle close under 50EMA to days latter do a bearish cross with way way less volume
BTC/USD 1D Chart
After CORONA hit the move up was inevitable since price was so low compare to what we saw on the most part of 2019 but real break out started on August 2020 when for the first time we close 1W candle above that bearish trend, if we use the same 77 bars meaning 77 weeks, that puts the end of the bull market on January 2022, keep in mind end means when there is already enough confirmation to call it a bull market that doesn't mean at that point price still at all time high, this is the reason why I think that around July to September we may start to see the top of this market, just my opinion my speculation based on last market, not all markets are the same but this is how I feel, besides we already starting to similar scenarios
Potentially we still have a few good months.
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