Maybe Something is Wrong with Me
Just this morning, I approached a friend asking for advice in jest. I told him that perhaps something was wrong with me. I could identify at least three examples that which I struggle to understand the dominant sentiment.
The first one is with the pandemic and the lockdown. I could not relate to the emotional instability of the many people I know.
The second example was the recent outcome of the Philippine election. Many of my friends got depressed when their candidates lost the election.
And the last one is the current crash of the market price of cryptocurrencies.
Perhaps, that personal disaster I experienced in 2009 altered my emotional makeup that made me like this.
I am not sure if the use of technical analysis is still applicable to the present movement of HIVE’s market price. Let us just assume for now that it is still applicable. Using the 61.8% Fibonacci retracement as an indicator, which is the popular opinion as to a healthy pullback of any financial instrument, HIVE should have resumed its rally in December last year at $1.36. But such support was not respected. The next base was found at $ 0.80, the 78.6% Fibonacci retracement, but this one too was broken down. Does it mean now that are we supposed to anticipate that HIVE’s price will return to its original base of $0.09?
Utilizing another indicator, and this time it’s the Relative Strength Index (RSI). Based on Investopedia, “an RSI reading of 30 or below indicates an oversold or undervalued condition.” With an RSI at 25.90, one can easily see that HIVE now is extremely oversold.
Grace and peace!
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I don't think we'll be heading to 0.09 anytime soon. We have a whole lot that is being built here, compared to past years.
Tho, the crypto market is unpredictable thereby leaving us with assumptions and speculations.
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I am also not buying that idea. But for some, they still don't see the current dip as a huge opportunity. They are still waiting for a deeper dip or a bigger bargain.
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I think there's nothing wrong with you :) You are analyzing something here and making sense too. It would be nice to NOT see Hive down there though :) It could be a great opportunity to scoop up.
Actually, it's now time to scoop up for me. A week more and my fund will arrive. I hope the price can wait. 😆
There are times that you can't avoid thinking like that especially if it appears that you can't find anyone in your real-world connecting with the same emotional wavelength. 😄
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It sure is. We never know if the market just swing elsewhere hehe. I didn't even notice the price went below 40 cents! And then I found out I have USDT on Binance, lol!
Yes, I actually lost the guessing game initiated by beststart for I was too positive about HIVE's price action. My guess was 0.53 as the lowest price. I missed by around 0.18 points. Too close! 😂
Better luck next time :) Can't really predict how the charts behave. But yes, your's was close😂
Joining a guessing game for fun is fine, but to apply it to one's trading strategy, that's a headache. 😂
Oh you are so right. I don't even know how to read, analyze or interpret charts so guessing isn't in my blood, lol!
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I entered the stock market as a fundamental analyst thinking that long-term investment is the appropriate strategy for me. After a year, I shifted to short-trading and learned technical analysis. So many indicators, but I only use a few of them.
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That's awesome! It takes a long time to grow portfolio in stocks and it's good that you changed your strategies.
Yes. 2015 was a big loss. 2016 to 2018, minimal gains but I could not track my progress for I failed to keep records. 2019 and 2020, are excellent two years! The first half of 2021 was good, but beginning in July, I was caught off guard again, and the following months until now are the continuation of my financial journey in the crypto space.
Ah 2015 was the year of many failed investments lol! Seems you had some great years and now you are in crypto and doing great too. You can surely see the difference between the two hehe
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For the first three months of 2015, I thought I was a genius trader for whatever I picked up, it was always green. I had no idea about bull and bear markets. I didn't realize that I entered the stock market at the peak of the bull. Bear started its slaughter the following month and no matter how I defended my position, they always ended up in net loss. By the end of the year, I lost 49% of my capital. That's a very expensive tuition fee to learn those market lessons. 😆
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