📈 Daily TA: HIVE/USD trend reversal?

Hello, dear members of LeoFinance!

Today I want to highlight something interesting in the price chart of our beloved cryptocurrency HIVE.

In the 4-hour chart, HIVE/USD has formed a Cup and Handle (C&P) technical pattern - a pattern that I do like and have used very successfully a couple of times while trading in the financial markets:

This is what Investopedia says about the C&P pattern:

A cup and handle is a technical chart pattern that resembles a cup and handle where the cup is in the shape of a "u" and the handle has a slight downward drift.

A cup and handle is considered a bullish signal extending an uptrend and is used to spot opportunities to go long.

Also, I found a very good example of C&P pattern (in order not to draw it myself) on the site of www.elearnmarkets.com:

So, if we check the price chart of HIVE/USD, at the moment we are slightly bellow or at the resistance line. And, if a breakout occurs, then it will be a favorable opportunity to enter the market.

However, I decided to risk, and bought HIVE, and powered up when HIVE/USD was in the cup. Now, I hope that a breakout will occur sooner or later!.

To be continued ...

As of the time of writing, HIVE/USDT is at the level of $0.1399 on Binance, according to TradingView.

A few words about me:

Just to let you know: I've been working professionally as a currency analyst for the last 14+ years, and as a cryptocurrency analyst for the last 3+ years.

Important!

Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.

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📈 Daily TA: HIVE/USD trend reversal? | 25-11-2020