It appears as though Hive is slightly breaching the downward sloping resistance of a Bull Flag, recently there was another fake-out to the downside of the horizontal baseline of support but the sp has created a higher low on top of the rising channel for a second time where I have placed the blue fingers.
The RSI is already breaching the downward sloping resistance of a similar pattern.
On the KST there has been a bullish cross, you need to zoom in close to get a clear view.
The chart linked to this chart displays a slightly different narrative, it displays the sp is trading inside the rising channel on the verge of breaking out to the upside.
Captain, do we have enough volume to break through? Kinda getting anemic over here.
ScotianBot
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@LumpyRex007, Well, the analysis is only as good as the previous candle, I don't have a crystal ball, unfortunately.
As long as BTC & ETH continue in a sideways indecisive price range Hive will do similar.
Short-sellers have much better control of traditional markets as opposed to BTC & ETH, price movement often stagnates until a clear trend change has been confirmed, based on my observation since the start of the bull run. hodl only what you're willing to see decline 30%-60%, low-risk low reward though, I hope that helps?
Volume is 30M on ATS today, not enough to shift short-term bearish momentum by the shorts. That is all subject to change with one Elon Musk tweet lol!
In all seriousness, shorts are banking on a double top rejection, only time will tell whether they're right and we're wrong, or, vice versa.