One of the great things about HIVE as a token is that it's so volatile. One the worst things about HIVE as a token is that it's so volatile. In other words, it's high beta.
When the market pumps, HIVE pumps even more.
We went from around 0.25 to 0.40 and now we're at 0.36. That's a huge move. And if anybody caught that move, hats off to you.
Rule of 4 charts:
1, Background macro
BTC is up. We're probably in for some chop. I'm still not totally convinced this pump has legs. Volume is low on kucoin here, but it's average for pumps on coinbase which is a better measure.
2, Weekly HIVE chart
Downtrend is still intact, but may be breaking out. This is a log chart, so plenty of room to run up to 1.00 or so.
3, Daily HIVE chart
Head space to 0.50
4, Hourly HIVE chart
Uptrend is consolidating on the short term moving averages. If you can catch those wicks it makes for a nice trade.
Overall, the big question is will the broader market continue to translate into beta returns? I don't think we're looking at alpha here.