Simple swing trade strategyThis is based on the 45 minutes, which provides reliable trigger for trades, with the use of a stop loss. This Swing trade usually runs for about 1-2 days but of course that varies. Identify targets based on support and resistance as I have done in my previous posts. All elements identified on the chart must be confluent: the MACD and histogram (I prefer it as columns in tradingview) indicate possible trend reversal – this example it is bullish breakout. The heikin Ashi candle sequence indicates possible trend reversal. The 17 EMA dots are tightening (when zoomed out) and the 2-6 EMA have crossed and had a successful test with a green candle. The cross alone is not sufficient to take the trade, there needs to be a positive test of the EMA. I believe there are five elements that are confluent so that is enough to take the trade, with a stop loss:
1. Candle formation
2. EMA cross and test
3. 17 EMA tightening
4. Cross of Signal and MACD
5. Histogram cross of 0 line on MACD
6. Always confirm support and resistance-don't short support and long resistance.
Zoom out to see the 17 EMA Tighten, indicating something is up
HIVE trade ideas
ABC Correction ?I apologize for last few charts, titles can be misleading and my objective is to provide insight to what I see and hopefully help folks out and the head and shoulders thing was just me looking at charts and if it did playout it would result in about the similar results what I have identified on the chart. In no way is this advice just me working on my analysis and sharing my map of HIVE price action and what might happen.
So, yes, immediate term HIVE is Bearish (4 day time frame and lower, but weekly is bullish and will show later) and I believe HIVE is going through a ABC correction for wave four. and HIVE is in the process of completing the final c leg before the start of a new wave A. Note that I apply the Harmonic Elliot wave theory, just makes mapping wave 3 easier (for more insight this fellow does an excellent job explaining the theory. medium.com
This correction is occurring for all miners and is not related to the company, which has excellent fundamentals. This is not the beginning of the bear market, and I believe Hive has a least one more leg-up and is bullish long term. I will provide more charts today.
STILL BULLISHI did notice that there is a head and shoulders pattern that is forming and there was a similar pattern that formed during the same time back in 2019. However; there several differences when compared to current set-up. First the price action is above the 100 EMA and more important above the 365 EMA, which is bullish compared to the set-up of 2019. The Phoenix indictor does have similar pattern formation and cannot make any prediction but I'm looking for the Red line to bounce in the area of the pink line indicating potential breakout.
HIVE BREAKOUT DAILY TIME FAME?STRAIGHT FORAWRD BREAK OF THE 17 (YELLOW DOTS) EMA AND TEST, WHICH IS CONFIRMED BY THE 2 (TEAL LINE)-6 (PINK LINE) EMA BUMP AND RUN AND THE HEIKIN ASHI PRICE ACTION IS BULLISH. IN ADDITION, THE PHOENIX INDICATOR BY DAVID WARD (TRADINGVIEW HANDLE IS WYCKOFFMODE) IS ALSO INDICATING BULLISH PRESSURE. MY TARGET FOR THIS SWING TRADE IS $8.03ISH, WHICH IS BASED ON ELLIOT WAVE AND FIN RETRACEMENT ANALYSIS. ALSO THE CORRECTION FORMED A FALLING WEDGE (abcde) NOT SHOWN AND THE MEASURED MOVE WAS ROUGHLY THE SAME AS MY TARGET.
$HIVE - Hive Blockchain TechnologiesDaily chart. Very easy to see what's going on here. Working on breaking that downtrend (white line), when this breaks watch for a successful back test for a buy signal. MACD needs a bit of work still but would start to curl with a few good days of buying. 50 day MA is currently at $3.95 if price were to touch this line I think this would be a good area to buy/add. If the 50 day MA fails then bottom of the shape structure is my next add/buy.
Is HIVE about to breakout of a Bull Flag?It appears as though Hive is slightly breaching the downward sloping resistance of a Bull Flag, recently there was another fake-out to the downside of the horizontal baseline of support but the sp has created a higher low on top of the rising channel for a second time where I have placed the blue fingers.
The RSI is already breaching the downward sloping resistance of a similar pattern.
On the KST there has been a bullish cross, you need to zoom in close to get a clear view.
The chart linked to this chart displays a slightly different narrative, it displays the sp is trading inside the rising channel on the verge of breaking out to the upside.
Inverted H & S ?It appears the Inverted H & S is coming to completion with confirmation on the break, with a test of the green dash trend line. Only time will tell, but goo risk to reward as identified by the measured move, which also confluent with fib levels and Bollinger bands (broken down based on standard deviation) not provide due to clutter. Will take a small long position (a nibble) and then add on the confirmation of the breakout. Only time will tell.
Is Hive trading in a Bullish Flag?Since my previous post on Hive linked to this chart, the share price has broken flush to the upside of an Ascending Channel, and upon back-testing old resistance there's been a double bottom where I have placed two blue finger icons, and old resistance has turned into new support forming a bullish flag upon consolidating, inherently bullish in my opinion.
On the RSI there's a similar pattern to the price action.
The KST has seen a bullish cross where I have placed the blue downward-sloping finger, and I've placed a question mark at an area where it's likely another bullish cross will occur near term, depending on the macro environment for Ethereum & Bitcoin.
The pattern could always play out bearishly as a descending triangle, if there's a loss of support at the upward sloping channel area that has acted as the baseline support of the bullish flag then my narrative will adjust accordingly.
If the bull flag pattern were to lose support, I'd expect the next area of support around the bottom part of the upward sloping channel, similar to the path I have drawn in red on the chart.
Fake-out to the downside of a Bullish Flag for Hive?It appears as though Hive has pulled a fake-out to the downside of a bullish flag & re-tested the top of a rising channel turning it into new support.
Hive is now trading back into the bull flag & on the verge of breaking out to the upside any day now considering the price of Ethereum & Bitcoin is continuing to rise and Hive's share price has been highly correlated to the price of these two assets.
BTC is the dark yellow line on the chart.
ETH is the dark orange line on the chart.
The correlation is undeniable and on a longer-term time frame Hive's stock is outperforming both assets which is a perk for being the most profitable public miner and having exposure to both assets, more exposure to Ethereum than BTC but over time that will change as Hive is starting to get more entangled with BTC mining.
On the RSI the downward sloping resistance has been broken to the upside and upon back-testing old resistance, it's acting as support for the time being.
There has been a bullish cross on the KST.
There's been a very nice V shape recovery after this fake-out.
53% Discount on HIVE Dip purchasedHave been employing DCA on this one, not huge money but it should never be huge money as per money management rules. Bitcoin, Ethereum and the entire cryptocurrency market has taken a 2017-2018 move down in dollar terms, but not by percentage terms. A good time to buy a little bit of everything is right now. There is no guarantee that we don't go down more, especially over the weekend, but there is also a chance at a bounce back to the north end of the range; as such, bitcoin-adjacent stocks such as HIVE will be relatively correlated with the price of Bitcoin. Also added a few shares of the BTCC ETF as well. I don't think I need to point out that everything is a bit oversold on balance and we are due for a bounce. In fact, in the time that I bought and am composing this, BTC moves closer to 48,000, about 600$ up. Time will tell.
With instruments like HIVE, QBTC/U, and BTCC/U (/U = USD denominated), I advise using a tax shelter, and at the next bull run peak (could be years away) to sell these, but hodl BTC for the duration. I could see a bear market happening between now and then. Target would be BTC at 300K+. These, if still correlated would have gone about 5-10x if correlation is maintained, but some growth at the very least. At this price, your risk/reward on both is fairly decent for small money. Then you have fiat in your tax shelter as opposed to selling BTC which could theoretically continue higher and something to pass on with an inheritance, or you can cash out completely. It is all about options. My opinion, sit on BTC/ETH and possibly a few others, collect a yield if you can via staking and or services like Blockfi.
HIVE (back to $6.50)It seems like hive could rise back to 6.5 in the coming days, after the low it was at it shows constant growth with few pullback, but with every opening it rises. Still learning, so if any mistakes or wrong analysisez or any information you can add that would be great to know about. Thanks.
HIVE.CA: Bullish FlagBullish Flag
Pros:
Post forming with volume
Descending volume during flag forming
PPS above 50MA and 200MA
RS above 0, but flat
ATR Ascending
R/R ratio above 6
250RSI above 50
200MA ascending
Target:
PT = 10.05$
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HIVE.CA: Bullish PennantBullish Pennant
Pros:
PPS above 50MA and 200MA
RS above 0, and ascending
ATR Ascending
R/R ratio above 8
250RSI above 50
200MA ascending
Cons:
Volume during formation
Target:
PT = 11.51$
1000 Followers! Thank you all!
Thank you to those who donate Coins!
Stay Humble, have fun, make money!