Buy Zone: Price of Hive

17 Days back I wrote this post regarding the Price of Hive, when it was trading at 3375 satoshi. In that post I tried to explain the difficulty of TA as a tool for price prediction. I mentioned that price prediction is dangerous and does not work, especially on crypto, which neither have a decent volume, nor have a stable/regular news release cycles similar to earning report of a common stock.

I used this chart above, which a "buy zone' on it. My thoughts were fairly simple, as most of my trading in real life. I try not to predict. I try to act based on predetermined targets. As you can see today Hive is trading at 2600 satoshis. Perfectly within my previously mentioned Buy Zone. So I bought some hive today.

Point Forward

So now what? Again, I do not have a clue about which way the price will go. But if the price goes lower, I will consider slowly to add to my position. My friend Asher pointed out earlier to me, that this box has a relatively large price range, 1000-2700, that is nearly 3X in terms of range. I agree, and I will repeat what I said to Asher. Since Hive is volatile, during big moves, some of the daily range of Hive are in the order of 3000 satoshis. That is just the reality so, chances are that will happen again, both to the upside and to the downside. We just go with the flow.

Currently I have 690K HP, and I am looking to add to this position.