HIVE Rallying: Exactly How We Called It

In my last analysis on Hive (3 days ago), I talked about the expected move. I expected Hive to bump off of its recent highs and consolidate just under 2k satoshis.

Over the past 3 days, it has played out exactly as we predicted in that previous post:

(chart from the previous post I did on HIVE)

Now take a look at today's chart:

A very tight consolidation is happening and once this is over, we'll either break to new recent highs or we'll break down to that 2k SAT level.

I bought some HIVE off of this latest consolidation. Averaging in around 2130-2150 SATs.

If Bitcoin continues it's own pullback, then we'll see this breakout accelerate in my opinion (green line). If Bitcoin were to recover, I think it will cause HIVE to retreat to that 2k sat level (red line).

Above is the hourly chart for HIVE. We're seeing a nice breakout in the short-term and we may see it test that previous resistance of 2350. Tonight will mark a major (~8-12%) move in HIVE/BTC.

Targets:

• Buy around 2000-2150 SATs
• Take profits around 2350-2500 SATs

Posted Using LeoFinance