We were expecting a small fall or even a lateralization at the end of September. We started the month at around $50,000 and we expected to close close to that, but we're down nearly 20% so far.
However I prefer to see it in another way, looking with a macro view and not just this month.
In May we had a drop of more than 40%, reaching the bottom of just under $30,000. And we stayed for approximately until July 20th in this parameter, being able to accumulate this promotional value that 2021 offered us.
Since then the price has risen more than 40%, reaching over $50,000 again early September (same price from early May and late April, reaching tops close to $60,000).
A fall of less than 20% close to a rise of more than 40% cannot be considered a fall. A retraction, yes, a correction too, but a fall and a reversal I find difficult, possibly even impossible.
Short-term supports have been broken, but we have not yet reached early August values like $38,000, even though the $40,000 value has been tested hours ago.
I interpret all this move more as that step backwards you take to give a boost rather than missing as a forfeit and then walk long backwards seeking a new strategy for your moving forward.
The path is already defined, we want to seek until January minimum levels of $100,000 and close to $250,000, in a very conservative view of mine, with optimists seeking a support of $350,000.
I don't judge them, I also have positive thoughts, but for HIVE, in a perfect setting I can easily see us hitting $5 with Leo and Pob hitting $2 easily.
This end of September I believe to be a month of calm and analysis, no hasty decisions, and thus enjoy what the beginning of October will bring us.
Fasten your seat belts.
