This week was pretty intense for me and as always, my biggest problem was lack of time to do everything I wanted, but this is life and we do what we can. Anyway, it's time for a new analyses, so let's see what $HIVE has been up to, as well as $BTC this week.
The monthly chart is pretty simple and explicit. Even though there's one week for the candle close, the chart is looking good already. The current candle looks like what we've all been expecting. It's a nice bullish engulfing candle and should the candle close as it is now, or higher, that means bullish continuation. Price still has to close above the bearish gap and invert it, but there's one week for that to happen, so there's no reason to talk about that now.
There are around 6 hours till the weekly candle close, things can change, but as it's Sunday, without any major event announced, I doubt this candle will look much different at close.
Last week's candle closed above the bearish OB, so right now price is delivering from a bullish OB. I'm glad $HIVE has finally made a move to the upside, but as things are never as nice as we would want, this chart has some things I don't like. Those long upside wicks are not something you want to see, especially on high time frame.
At the time of writing, the two bearish FVG's are capping the market. The funny thing is, that both have been rebalanced, but none of them inverted. Next week we'll see if this candle can close above the FVG, but I highly doubt it.
The lower the timeframe, the uglier the chart gets. Again, those wicks are crazy and it's not something you want o see when trading, unless you want to take profit. In this case, low liquidity mixed high volume makes this and if you go to a lower timefram, you'll see who's buying.
I have two gaps drawn on the chart, but the second one, close to where price is now, is not valid until the actual candle closes, in about 6 hours. Should price close like this, we can have a valid gap, which will have the chance to be retested. Or not, as the other gap, situated lower has not been retested either.
No one knows what's going to happen, but the downside looks amazing, full of untapped liquidity and would be glad to short it, but you can't short $HIVE on Binance and in these market conditions shorting is extremely risky, unless it's scalping on very low timeframes.
Anyway, the nest liquidity pools to the upside are the ones I marked on the chart, respectively $0.33, $0.348 and above.
I'm really curious to see how $HIVE is going to behave from now on. Many of the alts are taking off, making parabolic moves already, although $BTC is not done yet. $HIVE still has room for a 10x from where it is now.
I didn't want to over complicate the $BTC chart. We have the previous ATH, the new ATH and a gap that is being retested as we speak. We had a slight pullback during this weekend, which is not over yet.
All I can say, if this bullish fair value gap can not hold price, the next level to be retested is the level of the order block (OB).
It's difficult to anticipate what will happen in the upcoming weeks, but $BTC is going to make a new ATH, hitting $100k next week is almost certain. After that ... up only. Ok, the last sentence was a joke, as we all know there's no such thing as up only, because there are pullbacks, corrections and so on.
I hope next week $HIVE's price action will be a bit different. I want to see big bodied candles, bullish candles if possible and not big upside wicks. Is it possible? We'll see.
Stay safe people, be smart and protect your capital.
As always, this is a game of probabilities, not certainties. Also please note, this is not financial advice, it's my view and understanding of the market.
All charts posted here are screenshots from Tradinview.
If you're a newbie, you may want to check out these guides:
- Communities Explained - Newbie Guide
- Cross Posting And Reposting Explained, Using PeakD
- Hive Is Not For Me
- How To Pump Your Reputation Fast - Newbie Guide
- Tips And Tricks & Useful Hive Tools For Newbies
- More Useful Tools On Hive - Newbie Guide
- Community List And Why It Is Important To Post In The Right Community
- Witnesses And Proposals Explained - Newbie Guide
- To Stake, Or Not To Stake - Newbie Guide
- Tags And Tagging - Newbie Guide
- Newbie Expectations And Reality
- About Dust Vote And Hive Reward Pool, by libertycrypto27
I remember in 2017 when I first got involved in crypto. Eth was $1000 and BTC $10000. What a long strange trip its been... but those kind of stories are always silly. I was putting money in the stock market back when BRK was $8000 too lol and there wasn't even a BRK.B yet
Old times, but it's always nice to remember those, isn't it? 😊
𐲌𐳛𐳍𐳀𐳖𐳘𐳀𐳘 𐳤𐳐𐳙𐳆 𐳀 𐳇𐳐𐳀𐳍𐳢𐳀𐳘𐳛𐳓𐳢𐳜𐳖 𐳋𐳤 𐳀𐳯 𐳉𐳖𐳉𐳘𐳯𐳋𐳤𐳉𐳓𐳢𐳟𐳖⹁ 𐳇𐳉 𐳞𐳢𐳬𐳖𐳞𐳓⹁ 𐳏𐳛𐳎 𐳖𐳁𐳦𐳛𐳘 𐳀 𐳂𐳉𐳒𐳉𐳎𐳯𐳋𐳤𐳉𐳇𐳉𐳦⹁ 𐳏𐳛𐳎 𐳀 𐳘𐳐 𐳓𐳜𐳇𐳚𐳉𐳖𐳮𐳬𐳙𐳓𐳞𐳙 𐳑𐳢𐳏𐳀𐳤𐳤𐳀𐳓! :)))
𐲏𐳁𐳦 𐳘𐳐𐳖𐳖𐳐𐳜 𐳂𐳛𐳆𐳐⹁ 𐳏𐳛𐳎 𐳉𐳖𐳦𐳬𐳙𐳦𐳉𐳘 𐳀 𐳏𐳐𐳮𐳉-𐳢𐳜𐳖⹁ 𐳇𐳉 𐳀𐳙𐳚𐳐𐳢𐳀 𐳖𐳉𐳌𐳛𐳍𐳖𐳀𐳖 𐳀 𐳦𐳞𐳰𐳇𐳁𐳯𐳁𐳤⹁ 𐳏𐳛𐳎 𐳉𐳢𐳢𐳉 𐳘𐳁𐳢 𐳙𐳉𐳘 𐳘𐳀𐳢𐳀𐳇 𐳤𐳉 𐳐𐳇𐳟𐳘⹁ 𐳤𐳉 𐳉𐳙𐳉𐳢𐳍𐳐𐳁𐳘. 𐲋𐳤 𐳓𐳐 𐳐𐳤 𐳮𐳀𐳎𐳛𐳓 𐳋𐳍𐳮𐳉 𐳓𐳐𐳤𐳤𐳋. 𐲘𐳛𐳤𐳦 𐳙𐳀𐳎𐳛𐳙 𐳓𐳉𐳖𐳖 𐳓𐳛𐳙𐳄𐳉𐳙𐳦𐳢𐳁𐳖𐳙𐳛𐳘 𐳘𐳐𐳙𐳇𐳉𐳙𐳢𐳉⹁ 𐳌𐳟𐳖𐳉𐳍 𐳀𐳢𐳢𐳀⹁ 𐳏𐳛𐳎 𐳏𐳛𐳎𐳙 𐳛𐳥𐳦𐳛𐳘 𐳂𐳉 𐳘𐳀𐳍𐳀𐳘⹁ 𐳘𐳉𐳢𐳦 𐳐𐳙𐳇𐳪𐳖 𐳀 𐳂𐳛𐳖𐳛𐳙𐳇𐳪𐳖𐳁𐳤 𐳀 𐳠𐳐𐳀𐳄𐳛𐳙 𐳋𐳤 𐳥𐳉𐳢𐳉𐳦𐳙𐳋𐳘 𐳓𐳐𐳏𐳀𐳤𐳙𐳁𐳖𐳙𐳐. 𐲉𐳢𐳢𐳉 𐳓𐳋𐳥𐳬𐳖𐳞𐳓 𐳘𐳁𐳢 𐳋𐳮𐳉𐳓 𐳜𐳦𐳀⹁ 𐳐𐳦𐳦 𐳀 𐳖𐳉𐳏𐳉𐳦𐳟𐳤𐳋𐳍⹁ 𐳏𐳛𐳎 𐳉𐳎 𐳢𐳀𐳓𐳁𐳤 𐳠𐳋𐳙𐳯𐳦 𐳓𐳉𐳢𐳉𐳤𐳤𐳉𐳓⹁ 𐳆𐳀𐳓 𐳛𐳓𐳛𐳤𐳀𐳙 𐳓𐳉𐳖𐳖 𐳆𐳐𐳙𐳁𐳖𐳙𐳐.
𐲦𐳉 𐳏𐳛𐳎 𐳮𐳀𐳎⸮ 𐲙𐳋𐳏𐳀 𐳉𐳖𐳛𐳖𐳮𐳀𐳤𐳛𐳘 𐳀 𐳂𐳉𐳒𐳉𐳎𐳯𐳋𐳤𐳉𐳐𐳇𐳉𐳦⹁ 𐳇𐳉 𐳢𐳐𐳦𐳓𐳁𐳙 𐳥𐳜𐳖𐳛𐳓 𐳏𐳛𐳯𐳯𐳁 𐳂𐳁𐳢𐳘𐳐𐳗𐳉𐳙 𐳂𐳉𐳒𐳉𐳎𐳯𐳋𐳤𐳏𐳉𐳯⹁ 𐳤𐳀𐳒𐳙𐳛𐳤 :(