Quick $HIVE and market update - 05.08.2024
I didn't plan to post about $HIVE and the market in general, but the latest events deserve a word I believe.
To cut a long story short, this is what I said yesterday, in my technical analysis:
The daily chart shows clearly price swept the low of the candle marked on my chart and the next obvious liquidity pool is at the relative equal lows, which lay within the daily order block (OB D), which is meant to defend price. It's a crucial level that should hold as otherwise things could get ugly, we could revisit the $0.15 area, or even lower. $HIVE Technical Analysis - 04.08.2024
Unfortunately, today 💩 hit the fan and the worst happened.
NIKKEI started the day on the wrong foot, started dropping and registered a 12% drop in 8 hours.
NIKKEI is not the focus on my analysis, but it worth to mention, that unfortunately, today NIKKEI dropped below the yearly open and cancelled all the yearly gain in less that 4 weeks. There has been signs as you can see and the inevitable happened today.
Unfortunately, as I mentioned yesterday, these events have a huge impact on most of the markets. Major stocks dropped 10 - 12% and risk assets like crypto were impacted as well.
On the daily chart, $HIVE swept the two lows I mentioned as relative equal lows and swept $0.15 as well. This chart is a bit messy, as I wanted to show where the $0.15 level is coming from, but bear with me as the next chart is more clear.
At the time of writing, on a daily scale, price bounced off a bullish fair value gap (FVG), which is defending price at the moment, but if that FVG will not hold, things can get really ugly for $HIVE.
This is the left side of the chart and as you can see, that bullish FVG, marked with green, is the last one to defend price. If that is lost, below we only have low resistance liquidity. Could we revisit those levels at $0.1? Who knows? Everything is possible. The chart clearly shows, but for those who are not familiar with reading candle charts, we're at the February 2021 levels with $HIVE.
On a more granular scale, the h4 chart is not more promising either, if you want to see a sharp upside move. The current candle closes in 3 hours and right now it looks like a bearish one. There's a huge bearish FVG (marked with red) above, which is capping the market right now. For bullish continuation, price needs to close above the FVG, invert it and also close above the orange line at $0.1818, which is the bullish order bloc (OB) right now. To give you an idea, when it's going to happen, that would be a 21% move to the upside, which most likely won't happen in a day, unless someone with deep pockets throws in a big order. I'd like to be proven wrong here as we've seen crazy wicks in the past and this is the time to buy or at least DCA in, but time will tell. If not, we're going to climb up gradually.
On the hourly, things look a bit better, but we're far from being out of the woods. The current candle is bullish right now, but at the time of writing, there are still 50 minutes to the candle close, price is above NY open, but we have ISM Services PMI news in 50 minutes, which again, can move the market in both directions. At this point, a sweep of the current low at $0.1467 is still possible.
$BTC is not looking better either. The CME gap was fulled and price dropped like a stone during Asia and London. Price seems heavy at the moment and on the h12 chart, the sweep of low of day (LOD) seems very likely. News can work as catalyst. If LOD is lost, a sweep of $48300 is possible. Below that level we have two bullish FVGs, that should defend price, but $44k is also in the cards. I'm not saying it's going to happen, but it's better to be prepared because if that happens, alts will be murdered.
UPDATE: while I've been writing my post, the hourly candle became bigger, which means price is seeking liquidity higher. Let's see if it can close as a bullish engulfing candle. But again, watch out for the news in about 18 minutes and most importantly, stay safe!
As always, this is a game of probabilities, not certainties. Also please note, this is not financial advice, it's my view and understanding of the market.
All charts posted here are screenshots from Tradinview.
If you're a newbie, you may want to check out these guides:
- Communities Explained - Newbie Guide
- Cross Posting And Reposting Explained, Using PeakD
- Hive Is Not For Me
- How To Pump Your Reputation Fast - Newbie Guide
- Tips And Tricks & Useful Hive Tools For Newbies
- More Useful Tools On Hive - Newbie Guide
- Community List And Why It Is Important To Post In The Right Community
- Witnesses And Proposals Explained - Newbie Guide
- To Stake, Or Not To Stake - Newbie Guide
- Tags And Tagging - Newbie Guide
- Newbie Expectations And Reality
- About Dust Vote And Hive Reward Pool, by libertycrypto27
Hey @erikah! I noticed you posted on the Leofinance community, thanks for providing great content related to finance and crypto
A few months ago we opened the user interface inleo.io to every community, this means that every kind of content can earn $LEO now, all you have to do is publish using the frontend INLEO and you will earn extra tokens
And for example, this vote would distribute some $LEO tokens to your content :D
Hopefully you try it out in one of your future posts! Remember every community and topic is game now for INLEO
I'm aware of that, but thank you for notifying me.
No problem! Have a great day
Thanks, you too :)
Thanks for the great content @erikah, it was much needed!
You're welcome @idiosyncratic1, I'm glad it helps.
Speak about downvotes and the abuse of power on Hive https://www.publish0x.com/the-dark-side-of-hive
As long as activity continues, HIVE will continue to thrive. As long as the community doensn't panic sell, HIVE will continue to thrive. Blogging here since 2017, I've seen it dip below $0.10, but kept on blogging and earning. I even bought a bunch with USD. I've also experience over $2.00 HIVE and still kept on blogging and earning. I didn't sell out, but kept on building.
Things are not that simple, panic selling is not the only factor influencing price, but thanks for letting me know.
Coordinated effort? Conspiracy among holders?
Nah, it moved with the crappy crypto market to an exact degree. No conspiracy here: not regarding hive itself anyway. It’s clear we are going to .12 cents. We keep breaking down with the less than best crypto trend not falling along with Bitcoin past 18 months. We will be going lower than the .148 bottom early Monday morning. We need new users and they aren’t here. I plan on buying a lot if we hit a dime.
Looking at the past 12 months chart, seeing Bitcoin up 100% or so & Hive down 50% or so , it becomes clear what the trend is. At least for now.
In fact we are far lower then when Bitcoin bottomed in fall 2022 at 15K. Hive was .27 low back then. We got cut in half while while bitcoin went up more triple comparing Monday lows to 2022 lows.
I sold most my hive when we went to $3.00
bought it back for .50 cents. It was obvious pump that didn’t make much sense. In those situations just holding isn’t best bet. I turned 20K Hive into 33K (by tike I powered down I got it out at average price of $1.75.
I bought it all back for less. I agree on not panic selling, but planning a sell when up 2800% from year prior is just being smart. It was obvious not a price that made sense…
I got my dry powder test for .12 cents. I am earning daily and not worrying about price besides some side Hive I keep whitewater for testing but my HP I don’t worry about at all. Just doesn’t mean I don’t make moves based on wild outta wack moves.
If BTC costs $30k, what price will HIVE have? $0.05?
I don't do predictions, sorry. I trade the charts, so I can't help you with that.
Tough day. Interesting to me how much crypto moves with other markets. So hard to find any assets that are not correlated to stocks these days.
Money flows in and out of the markets and risk assets, among which crypto as well, are highly affected. The main thing is to know how to ride these waves.
HBD is not correlated to stocks and is doing just fine.
!BBH
HBD is a different asset class.
@steven-patrick! @hirohurl likes your content! so I just sent 1 BBH to your account on behalf of @hirohurl. (1/5)
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Margin calls happen in markets and traders need to sell anything liquid. Common tale. Nothing is “safe” in the short term during these events, just gotta plan and have dry powder ready to take advantage.
I hate to say it, but $HIVE will drop below $0.10 next month. That could be a good entry point, and I'm seriously considering buying significant amounts if it does.
Well, time will tell. There are those lows there, that can act as a magnet for price. We shall see.
There is undoubtedly a point where massive buying occurs, marking a historical bottom. Those who can pinpoint this moment stand to make a fortune.
Well pinpointing is one thing, buying is another. Also, DCA in is a good method as well, especially that you can stake Hive and earn curation rewards. But again, it depends on each individual, financial resources and goals.
I handle the ups and downs by staying calm and not reacting to them. Fortunately, I'm in a position where I don't need to sell anything, and I invested only what I can afford to lose.
Emotions have no place in trading, but obviously it's more difficult to keep them out of the equation.
That is a golden rule in trading. So congrats!
It’s tough for a lot of people, and that’s completely understandable. I definitely face challenges too, but I’ve learned how to manage them. But many parents weren’t financially savvy, and I promised myself I wouldn’t make the same mistakes.
when i need sell my hive it is falling down, i must wait a few weeks now :D
Well, this is life 🙂 It's a shame to sell at this rate tbh as you lose a lot.
So..... if hive drops like you say to 0.15, is that a good time to buy some using proper money?
The best strategy is to dollar cost average (DCA) in. Buy some now, keep some cash if it goes lower. Or buy now, if you're ok with the price. $HIVE was at $0.49 in March, so compare that with $0.16, where we are now.
Hmm up amd down up and down, amazing how you keep track thanks for the info, I shall have a think!
You're welcome @grindle.
👍
I totally agree, making staggered purchases with the cash liquidity I had helped me a lot to buy with good averages.
Averaging is the only good strategy here, as you can't buy bottoms. I mean you can try, but your rate of success will be a disastrous one 🙂
Good decision Nitsu!!!
I ageee, dollar cost averaging is only responsible plan. That says, I believe Hive is going under.23 cents soon so I’m holding some dry powder to buy closer to a dime. Hit I have plenty of Hive already so I don’t mind being wrong, I just think it’s obvious we are going to .12 cents or so based on past year chart and performance.
👍
I think he meant .13 not .23
Typo from my creator @geneeverett
👍
Indeed I did mean .13
My take from June
https://peakd.com/hive-167922/@tobetada/crypto-analysis-or-are-we-still-in-the-bear-hive-15-cents
STOP THE ABUSE ON HIVE
FAKE HIVE POLICE
HIVE IS DEAD
HIVE IS ONE BIG FARM
!LOL !WEED !MEME !VSC $BBH $PIZZA !discovery 35 !GIF !BBH !ALIVE !DOOK !PGM !LUV !PIMP !LOLZ !BEER !PIZZA !HUG FOR !DOOK GINA @CRIMSONCLAD
https://hive.blog/hive-104387/@bpcvoter3/se19g2
Downvoted BY HIVE FARMERS
6 days ago in #life by slobberchops (81)$0.00
Reply 3
Sort: Trending
[-]bpcvoter2 (-5)(1) 4 days ago · Will be hidden due to low rating
NO DOWNVOTES FOR MARKY MARK'S SELF VOTING !WEED
https://hive.blog/life/@slobberchops/re-gogreenbuddy-sdr1wb
https://www.publish0x.com/the-dark-side-of-hive
https://www.reddit.com/r/stoptheabuseonhive/
https://peakd.com/hive-164833/@bilpcoinbpc/you-have-all-witnessed-this-account-being-downvoted-to-a-negative-reputation-for-no-reason
SHAME ON YOU ALL SAD PEOPLE WHO SCAM LIE AND FARM HIVE AND HIVERS
[-]acidyo (82) 3 months ago
Haha at "I shouldn't make commercial" :D Maybe something to worry about when you have more youtube subscribers! Quite interesting content though, these things should get more subs on there and here.
$4.28
1 vote
Reply
[-]gogreenbuddy (67) 3 months ago
Yeah thought that was funny too
$4.54
4 votes
gogreenbuddy: $4.47
acidyo: $0.06
holbein81: $0.01
koleso: -$0.00
https://hive.blog/life/@gogreenbuddy/i-had-to-give-up-on-my-gabion-fencing-too-much-work
@themarkymark @buildawhale @upmyvote @ipromote @gogreenbuddy @usainvote @punkteam @makerhacks @apeminingclub @leovoter @blockheadgamds @rollingbones farm @cwow2 @solominer @steevc @adm @abit @theycallmedan @dalz @abh12345
HE MAKES CURATION REWARDS WITH ALL HIS ALT ACCOUNTS BURNING TOKENS LIKE THIS DOES NOT TAKE OLD TOKENS IT MINTS NEW ONES AND BURNS THEM
https://hive.blog/hive-167922/@bilpcoinbpc/the-power
https://www.bilpcoin.com/hive-167922/@bilpcoinbpc/the-power
https://www.bilpcoin.com/hive-167922/@bpcvoter1/response-4-to-themarkymark-marcus-buildawhale-usainvote-ipomote-leovoter-gogreenbuddy-and-over-100-of-his-alt-accounts
Reply 2 to @eddiespino
Reply to @eddiespino
cwow stop the drink and drugs
Stop supporting the fake Hive police who do nothing but exploit Hive
Many people on Hive will never get to spend any of their Hive as it may become illegal in certain countries
https://peakd.com/hive-158694/@bilpcoinbpc/marks-dream
Zac the man with the scam plan
lol the Marky mark keeps dreaming
GET HELP STOP CRYING
WE CAN NOT HELP YOU
ARE YOU OK
Hello Marky, are you ok do you need help, are you facing mental health challenges?
It's crucial to seek help. Continual dishonesty can erode trust and your mental health. Downvotes do not have an impact on us, but our consistent sharing of accurate information is key to us.
Marky stop getting butt fucked LOL.
https://hive.blog/computers/@themarkymark/re-bpcvoter1-sfi1bm
Bilpcoin Gems High-risk Low-risk Super Trump (ticker: Strump) Corgi with knife (ticker: Corgi) Engines of Fury (Ticker: Fury)
Let's talk
Rider jim
Make today great
Decentralized or centralized
Bilpcoin Vibes
Tomorrow may never come, so seize the day seize the moment
Love life, be happy
[-]themarkymark (80) yesterday (edited)
Farming? Show me where I am farming, I post like one post a month at this point, and all buildawhale is burned. As you say transactions don’t lie. And don't say curation rewards, I'd get those no matter what I vote on and if you expect I will be the only person on this blockchain to forfeit curation rewards, you are dumber than we know you are.
https://hive.blog/hive-167922/@bpcvoter1/seq7ok
https://www.bilpcoin.com/undefined/@bpcvoter1/response-3-to-themarkymark-marcus-buildawhale-usainvote-ipomote-leovoter-gogreenbuddy-and-over-100-of-his-alt-accounts
https://hive.blog/hive-193084/@bpcvoter1/response-2-to-themarkymark-marcus-buildawhale-usainvote-ipomote-leovoter-gogreenbuddy-and-over-100-of-his-alt-accounts
!LOL !WEED !GIF !MEME
https://hive.blog/hive-167922/@themarkymark/re-bpcvoter1-sepr9c
21 hours ago in LeoFinance by themarkymark (80)
https://hive.blog/hive-167922/@bpcvoter1/senppv
https://hive.blog/life/@anomadsoul/re-gogreenbuddy-seqf1p
https://hive.blog/hive-104387/@bpcvoter3/se19g2
Downvoted BY HIVE FARMERS
https://hive.blog/life/@slobberchops/re-gogreenbuddy-sdr1wb
https://hive.blog/hive-167922/@themarkymark/re-bpcvoter1-setz65
Response 4 to themarkymark marcus, buildawhale usainvote ipomote leovoter gogreenbuddy, and over 100 of his alt accounts
Reply 2 to @eddiespino
Reply to @eddiespino
cwow stop the drink and drugs
Can't you see the problems on Hive?
Hive dropping to $0.000
Posted using Bilpcoin
LOL
It seems like THEMARKYMARK is dealing with some personal drama and mental issues, which might be causing them to spam us and others with baby pics, GIFs, and questionable content he's been doing the same for years. The fun doesn't stop there, as this seems to be a recurring theme with multiple online personas. The real question is, do we want to trust these drama-magnets with our hard-earned funds or any significant influence on Hive?
On Hive a significant issue exists with automatic upvotes consistently rewarding the same individuals day in and day out
We want to address the issue of downvoting. It has caused pain to many people, and we want to make sure it doesn't happen again reply to @jacobtothe
On Hive a significant issue exists with automatic upvotes consistently rewarding the same individuals day in and day out
We hope that those who genuinely care about Hive will reconsider their actions, as continuing down this path could inadvertently harm innocent users who are unaware of these issues
lol the Marky mark keeps dreaming
Marks dream
https://www.publish0x.com/the-dark-side-of-hive/the-marky-mark-marcus-its-clear-youre-deeply-engaged-in-farm-xmjodol
Posted using Bilpcoin
https://www.bilpcoin.com/undefined/@bpcvoter1/lol-the-marky-mark-keeps-dreaming
themarkymark (80)in FreeCompliments • 2 days ago
No.
I downvote spammers, you are a spammer, you get no monies. It’s very simple.
In the meantime go get some help. You obviously have some issues going on.
2 days ago in FreeCompliments by themarkymark (80)$0.00
Reply 4
Sort: Trending
[-]bpcvoter1 (-4)(1) yesterday · Will be hidden due to low rating
GET HELP
$0.00Reply Edit
[-]themarkymark (80) 4 hours ago
I have a personal chef, maid, and a captain for my yacht. What other help do I need?
$0.00Reply
https://hive.blog/hive-140084/@themarkymark/re-bpcvoter1-sg5l3x
@gogreenbuddy THIS MAN IS A TOP HIVE FARMER AND SCAMMER SOME OF HIS OTHER ACCOUNTS @THEMARKYMARK @BUILDAWHALE @USAINVOTE @UPMYVOTE @LEOVOTER @IPROMOTE @PUNKTEAM @CWOW2 @STEMGEEKS AND 100s more
https://www.publish0x.com/the-dark-side-of-hive
@bpcvoter2, sorry! You need more to stake more $PIZZA to use this command.
The minimum requirement is 20.0 PIZZA staked.
More $PIZZA is available from Hive-Engine or Tribaldex
@bpcvoter2, sorry! You need more $ALIVE staked to use this command.
The minimum requirement is 1000.0 ALIVE staked (non-delegated stake plus incoming delegations).
More $ALIVE is available from Hive-Engine or Tribaldex, plus you can win Alive Power delegations in our daily chat on @alive.chat every day.
As a person who doesn't really understand much when it comes to crypto, I really needed this in my life! It came as a quick explanation when my worries started to strengthen after seeing the latest drops in prices. So thank you!
After 6 and a half years? 😲 🙈
Ok, I'm glad it's helpful as that's the purpose of these posts and you're welcome :)
Yes! 🤦🏼♀️ My brain refuses to retain such information when it comes to numbers. It ended up quite damaged after graduating from a college of finances and economics where I had no satisfaction to study any of the school materials..
The truth is that you have chosen an excellent time to bring these analyses, thank you for bringing all this information because personally it helps me to make decisions with a good basis and as you may have noticed there are more people who have found it useful.
Thanks Nitsu, I'm glad to know it helps people as that's the goal here. I'm going to share weekly $HIVE analysis from now on, but also emergency updates, if something significant happens,like the NIKKEI 💩.
Very useful information @erikah,So far I haven't understood so much about crypto,but just saw about this graph in your post,Little by little I will learn about it,Hopefully I really understand more about this,Thank you very much @erikah for providing us with this wonderful information,Have a nice day 😊