Hive Finally Seeing Some Upside

For anyone who doesn't know, I'm an active trader of HIVE. That is my primary purpose when it comes to Hive - and it was my purpose on Steem as well before the Hive fork.

I trade Hive very actively even though I use the platform only intermittently. I actually traded the currency long before I joined the platform with an actual account in order to join this Leo community.

So I keep a close eye on the Hive price and the volume associated with it. I have a few indicators that I look out for as a cryptocurrency trader in general, but currencies like Hive present us with unique opportunities to trade the market and leverage something that I call low liquidity scenarios.

Low Liquidity Scenarios

A low liquidity scenario is what I refer to when looking at wild price swings in currencies like Hive.

Because there is a low supply of HIVE available on exchanges, when a big buyer or seller comes through and impacts the market, they create a colossal wick on the upside or downside.

These wicks are where I make my money in things like Hive. I have a constant stream of buy and sell orders that are specifically targeted at taking advantage of these wicks.

With each wick up or down, I have an opportunity to sell higher than the market and buy lower than the market.

In the chart above, you can see a recent wick on June 23rd which is what enabled me to sell HIVE from 2600-3000 SATS and then rebuy immediately after for ~2250 SATS.

Today, we're seeing some upside on HIVE as the rest of crypto dumps. We haven't seen a major wick yet, but the upside is nice and typically and indication that a wick might follow shortly after.

My sells are already set on the upside and my buys to reposition and get more HIVE are already set on the downside.

Posted Using LeoFinance