Good day Hiveians!
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Note: I wrote this post last night before the 10% drop today (as you can see in the charts), so I think the outlined scenario should work out pretty well. The 2$ Hive scenario is therefore pushed back to the next impulse wave probably in early 2022.
This is a similar post to two months ago when we were at the same spot of Hive's fractal that led to a 50% drop in the price of Hive
Back then, I made a lucky estimate of 16 cents for Hive which happened to the spot (this was certainly luck, but I did predict the movement of that pattern and hence the large correction). I think we are in a similar situation once again and I wanted to contrast the bullish scenario given some days ago which is of course still on the table. However, since Hive has stuck at this price level with Bitcoin moving upwards, I am starting to lean more towards the corrective scenario.
The shape of Hive's fractal has been demonstrated over and over again. It is once again shown here in the ovals. This pattern has a high chance of doing very large corrections (as well as upward pumps). If a drop would occur, it would be big (at least 30%) and would bring the price back to about 40-50 cents.
After this, prices would be moving towards 60-70 cents again, only to head back down to probably 30-40 cents. My point here is that this is a perfectly normal movement. We have been moving upwards starting from 2021 in a volatile fashion, but the linear trend is about 20%/month. This would therefore be a potentially great buying opportunity.
These are the two scenarios provided so far:
Again, with the 10% drop today the blue scenario should be pushed back to early 2022. So I think the purple path should be a good guideline for the next months.
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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