HIVE | Major Down-wave Bullish? (300% Easy Growth Potential)Only Alan would call this out as a bullish chart setup, a great entry timing or buy opportunity... Why is that?
➖ HIVE has been going down since November 2021.
Red, down, down, down; no forgiveness, no pause, nothing. Straight down.
This is good, if you are out.
Because... the market cycles through cycles, after it goes down it tends to go up.
I always like to say that I like when a project goes down, because now I am 100% certain that it will eventually go up. If it is going up, the only thing that can happen is that at a certain point it will turn and start to go down.
Ok. I am warming up.
The signals are two here: Price action; the down down stops, and price action starts to become flat on the lower side of the candles. The second signals comes in the form of volume. Trading volume starts to rise. This can be more deeply appreciated by looking at MEXC.
If you plot the MACD and RSI, you will find a super strong, long-term bullish divergence. These tend to show up before a reversal takes place. (Long-term with the MACD, short-term with the RSI —both are showing bullish divergence though.)
Thank you for reading.
Namaste.
