I enjoying trading/flipping between HBD and HIVE. I use the market in HIVE wallet to do that. I dont try and time the market, but instead set up my buy and sell orders in advance, with target gains, and sit back and wait.
I thought I'd write an update on activity for this past week as there have been lots of opportunity due to the volatility in the price of HIVE:HBD, and particularly due to a number of short peaks both in HIVE and HBD.
Credit: Hive to US Dollar chart taken from CoinMarketCap on 20/04/23 within an hour of posting
This weeks hive price chart is pretty interesting:
- The lows are down at about the $0.43 level
- There are 3 fantastic peaks that spike up to around $0.48. They are short lived, but if your orders are already set up and waiting then no problem,
- But we also have a nice general build up from the 14th to the 19th where there was a nice increase in price from $0.43 to nearly $0.47,
- And lastly, we then have a nice drop back from $0.47 to $0.43 again - if you have your trading pots set up right, with your orders set appropriately then there is no reason why you cant also take advantage of the dumps !
For me, that represented 5 distinct trading opportunities right there this week - and I managed to catch all 5, because my orders were set up waiting for it to happen.
Credit: HBD to US Dollar chart taken from CoinMarketCap on 20/04/23 within an hour of posting
This weeks HBD price chart was also pretty interesting:
- HBD wasnt often at peg, and varied around quite a bit particularly between $0.96 and $1.06,
- There was a very nice pump to $1.13 roughly in the middle of the week,
- And then there was a dump right at the end of the week.
So again this shows us some nice opportunity, and particularly the spike to $1.13 mid-week.
Credit: Hive to HBD chart taken from HiveHub.dev on 20/04/23 within an hour of posting
Then when you take that and put it all together in the HIVE:HBD chart you can see the affect on price:
- Generally the trading price ping-ponged around the $0.43 to $0.45 mark, but had a nice number of breakouts above $0.45 representing nice HIVE sell points (for HBD), which then settled down again back to close to $0.43 after each one, representing nice opportunities to buy back into HIVE (selling HBD),
- That may not sound like much, but if you bought HIVE at $0.43, and sold it at $0.45 thats a nice 4.5% profit. If you then managed to repeat that quite a few times during the week - that soon adds up.
In Summary
Not all weeks are like this. And I have to say I was pretty lucky to have my trades set up with the right prices to take advantage, so I did not too bad. I wont be buying the lambo this week, but might be able to afford a lambo key ring (do they even have keys ???) !
Anyway, I found the trading environment pretty interesting this week due to all the peaks we've had, and I thought it worth sharing !
Best of luck everyone - and I hope you all have a great weekend when it comes !
All the best from Scotland