HIVE is At the Beginning Stages of a Pump Cycle | Here's How It Will Go to $0.43

HIVE is a unique cryptocurrency to trade. There are a lot of features to enjoy about it and while I don't pride myself on being regularly active here on the blockchain itself, I do trade HIVE consistently.

Trading HIVE comes with a certain degree of nuances. It is quite similar to trading STEEM; if that was something that you have any experience with prior to 2020.

With a cryptocurrency that has such a tight supply and such a strong follow, HIVE has an ability to pump that is a bit different than your standard crypto.

With HIVE, the pumps are fast and they are strong. There's an analogy somewhere in there, but I won't take the time to explore it right now.

Looking at the HIVE chart, I've been loading up right around the 2k satoshi mark (right around $0.21-$0.24).

With any trade, you need to have a target exit price. For my particular type of trading style, I pick the general area of where I'd like to exit and have a broad timeframe of when we'll see it get there.

On the chart I posted above, I've drawn in my target price for HIVE: at $0.41-$0.47.

This target price is based largely on intuition from previous pumps over on the Steem network throughout the years. I trade a basket of cryptos actively and HIVE is on that list. The pump to $0.41 will likely happen in the next 1-2 months. Depending on the rest of the crypto market, it may not last long - as I said, the supply structure of Hive leads in to massive rallies and massive dips.

The opportunistic among us will find the entries and exits along the way - that is one of the great things about trading Hive that I enjoy: bountiful swings.

Posted Using LeoFinance