HIVE will drop down pretty soon, but after that rise much more. Are you ready for this?
From my point of view we will see HIVE at 0.20 and now it is good opportunity to get more hive by trading: just sell at current price and buy on upcoming bottom. It's easy. Just take a look at the chart
As you can notice, Hive price is rejected from strong resistance at 0.25 USD , trading volumes go down and today we can see the red candle at the daily chart.
Now, to get a bigger view , lets check the weekly chart:
Look at the Stochastic RSI at the bottom - it is in overbought zone and price has left Bollinger Bands zone, today is Sunday and very ofter the movement in Monday begins opposite to weekend's direction. So it confirms that price needs correction. Of cog urse, it can be very short, but I don't see alternative to testing 0.20 USD zone. And further rise of HIVE price after that.
Next, if you take a look at bitcoin price chart:
You will see that here trading volumes also get lower, we have broken ascending triangle (and this is great) but no retest of broken resistance from above, I mean resistance at 41200 USD has not turn to support line yet. Stochastic RSI is also in overbought area and we have a small bearish wedge, the upper line touches 50000 USD - psychological level. That is why I expect that this wedge will push the price down to 40000 USD - 41000 USD zone.
So in short term, we have a possibility to earn hive with short position: sell at the current level, and buy later at lower price.
Of course, it is risky and I can be wrong with my analysis. And you should do you own research after reading any technical analysis. But I think this is a good opportunity for trading.
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