But the best feeling does not come from the fact that your analysis has been proven correct, but the best feeling comes when you also make a profit for yourself from that analysis.馃挵 I have come a long way from that phase when I used to analyse some assets and patiently observe them and make notes without making my own positions. It's time for real action!
Just 5 days ago, after a long time, I shared my technical analysis here on Hive. And based on that analysis, I placed 2 sell orders at the levels of 0.63 and 0.67 in my trading account. In the above chart, you can see the uppermost grey marked area between 0.65 to 0.70. As per my analysis, this was going to act as the next important resistance after the break of 0.50. The amazing thing is that in the recent upmove, Hive made a high of 0.68 which is very close to my sell order level and since then for the last 3 days, we are seeing continuous selling in it. This is the significance of key levels! Even if you look at the current market price from my sell order, I have made a profit of more than 30% in just 4 days. 鉁岋笍馃槑
Now let's discuss the possible future move in Hive.
One support is near the current market price close to 0.50 from where buyers' dominance should increase again but it is also possible that the price may go down even below this, in that case, the white channel in the above chart can act as a very important support.
Since I see myself as a long-term investor in the Hive, if I have to make fresh buys in the Hive now, I would be most interested in making fresh buys near 0.43 apart from the CMP. If buyers' interest is to be maintained with the current momentum, then no matter if it continues to trade here for a few days, it has to be closed above 0.42 every day. Because if it closes below that level, the confidence of the buyers will start weakening which is obviously not a good sign for any asset.
I hope Hive will sustain above its important levels this time and soon we will all see Hive at a New All-Time High!
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