May has been an excellent month for Hive. We had been waiting for this moment for a long time that Hive would make a strong pump and turn the disappointment of many investors into excitement. Many investors have started booking profits.
Including me, I had sold some hive and waiting for the price to rebuy. This week #hive will have more pumps and dumps and this is the special time for traders to book as many profits as tehy can.
Yes Hive has formed a strong bullish candle today showing around a 34% pump in a single candle. At the time of writing Hive’s price is around $0.089 and it continues to move upward.
Todays God candle is amazing.. We need to see such more candles in the next days to confirm the bullish trend of #hive.
When I checked the price in the morning it was already up about 10%. When I looked at the volume it was also quite significant. I took some profit at that level but I believed it would pump further.
As you can see on the chart I had drawn a resistance line around $0.011. Theres a strong chance Hive will touch this level and may face rejection from there. In my view this could be the beginning of a proper bull run as the price is showing continuous upward momentum.
I had some liquid Hive on Binance so I took full advantage and sold at a higher price. Now I am waiting for the price to drop again so I can buy back at a lower level.
Ideally I wouldd prefer the price to keep going up without droppin because I still hold around 1500 Hive Power which I want to sell at a higher price.
Then I plan to rebuy after booking profits. However a temporary correction is very likely. As soon as the price dips I will reinvest my amount and wait for the next pump.
If I talk about the current volume it has crossed 6 million which is a very positive sign. If the volume reaches around 30 million it can be considered a real pump.
But if the price keeps rising without a significant increase in volume then it could be a fake pump possibly driven by Korean exchanges.
So investors should pay close attention to volume. it must increase if this is a genuine move. Todays closing will be important to watch especially the candle wick. The smaller the wick the stronger the bullish momentum at close.
I hope you all took full advantage of this pump. Raise your hands who are the ones who didn't missed the pump...
I hope you find this post useful and informative.. If you do, please remember to reblog it so that it reaches as many people as possible and that they can benefit the most from it. Also remember to upvote which will help me financially and grow my account.
IMAGE TAKEN FROM CANVA TRADING VIEW
Thank You!
Best Wishes.