I have to say, this is pretty worrying. I'm disapointed I didn't see it until now. I kept looking for patterns, when it was possibly in one.
I thought it was just a descending channel it was riding in and it could break out at any moment.
Didn't realize that as soon as it would try, I'd notice it.
I was trying to draw patterns to see if there was anything I missed, and when I continued the trend lines, I saw this.
Did Hive already break out from the pattern? Or are my lines just off? If I redraw them, with the upward channel it's riding in that tried to break it out, it still kind of fits.
To get that second spike to hit, I have to draw the line down to not include the first spike.
And here we have it zoomed in, trying to break out of that descending triangle/channel.
What worries me is that may qualify as a "fake out". Which could indicate that it's going to go far lower. A descending triangle can be a reversal pattern after all, in an ascending market.
If we expand the top line to include that spike however, it's no longer a triangle, and simply a descending channel, that Hive is moving to the top of.
But if we ignore that one spike...
I'd like to pick up some more Hive, but I really don't want it to go down. I want it to go a lot higher.
Trade responsibly. Diversify your portfolio. Take risks if you feel like it though.
When someone says "Only trade what you're willing to lose", or similar, what they really mean is money that you could spend on something that might break anyway, or entertainment budgets. Don't let the fear of losing money keep you from investing or trading. Try it with a few bucks and consider it as a learning expense. Don't put in what would destroy you to lose, but you'll be okay with spending a bit less maybe. Maybe try it with some Hive earnings.
Educate yourself and trade responsibly. Unless you don't feel like it. It's your money.
