Bullish Flag or Descending Triangle for Hive?

2021년 5월 5일

Hive appears to have consolidated into a GIANT Bullish Flag or Descending Triangle pattern.

The horizontal baseline of the pattern has acted as support numerous times, and this specific price range has a lot of confluence dating back to early January of this year when it acted as a ceiling resistance before Hive sliced through it like butter surging over $7.00 CAD before selling off.

I have placed green upward arrows displaying three separate support bounces off the horizontal baseline of the pattern formation and red downward pointing arrows where the horizontal it once acted as resistance, inherently bullish considering this same price range has confluence dating back to Nov 2017 and it was acted as resistance back then..

Bullish cross on the KST where I have placed the downward pointing finger.

The DMI is displaying a Bullish twist where I've placed the blue upward pointing finger.

$8.00 CAD price target which is the extension target of this pattern if it plays out bullishly.