The internal market has zero fees for everyone. Big exchanges do have fees rebate systems but only for people that comply with certain requirements.
I am not a trader nor a speculator, but I am working developing Hive apps, so I notice some patterns from time to time. I see this chart every day while working on the code.
With my basic knowledge of indicators, it is interesting how before one of the last pumps we had both the RSI and the MACD apparently pointing that the bears were losing strength, at least temporarily.
We can see the large spike in price and we can see that the RSI was pointing that it was "possibly" overbought for a long period of time.
We can also see some clear zones of resistance, where the price struggles to get past somewhere. In this case it was almost exactly just below 0.34 HBD, see how many candle wicks were left at those zones! And more, how many wicks were left at the exact same horizontal line! The only exception being the pump that took us deep into overbought territory:
I would hope that a pump that take us above those wicks and keep us there could possibly nail an end in the bear market, but as the chart seems to show, that area is apparently too expensive for users to buy and the majority seems to prefer to sell over there. Could be a reason why we can't get past there.
Does technical analysis work? I don't know, if I knew for sure that it does then of course I would trade, but I don't trade because I am not sure of anything, so better to avoid unnecessary risks.
Most recently we had a small dump and went into oversold, then we recovered a little bit, almost nothing. We may still have a long bear market ahead of us. If a long bear market is the case, maybe the Hive internal market can help users take decisions. I am not talking about trading or speculation decisions, but decisions regarding the timing.
For example, I imagine someone that wants to sell Hive and sees some bullish patterns and understands them (not my case) may delay the decision to sell based off of the Hive internal market data. Same for someone that may be interested in buying but sees we are deep into overbought territory.
What makes me interested in the internal market is that it is mostly used by ourselves, regular Hive users. I don't doubt there are robots and speculators (which would possibly explain the pinpoint accuracy of the resistance zones), but since I believe there is real user demand and usage behind the internal market, I think it may be a relatively reliable tool in understanding the peoples sentiment towards HIVE and HBD! More than heavily automated exchanges! Our market is simple and straightforward, you simply trade HIVE for HBD or HBD for HIVE without leaving the chain, and that is the beauty of it.