With the PR about acceleration in freeing up existing shares that had been scheduled for availability in a short time, logicaly it could be suspected that price price could crash. So, right on schedule this morning, there appeared to be an attempt at a take down. The first hour of the day.
There was no enthusiasm for a price take-down. It failed about 1 hour into the day and using a 5 minute chart, at 9:40, the candle that materialized was a really pronounced hammer.
There was no clear increase in sellers during the attempted take down and the hammer candle effectively hammered in a bottom. Since then, its drifted back up and is holding sideways.
Parallel to this failed take-down attempt, note that Bitcoin prices have broken upside again.
So, I pretty much think there are buyers willing to buy every share that is used to try to stimulate a bear raid.
It looks like people think there is a bright future here. They buy shares eagerly enough to stop a major decline but they hesitate to jump in with a lot of buying because the number of days or weeks they may have to wait for a good profit is an unknown at this point.
So, there is buying on attempted take downs but there is a hesitance to commit too much because the money may end up being dead money for a week to a month. Since bitcoin itself is running, parking money in a dead spot when it could be being used to make money in the fast lane is not favored.
So, unless HIVE comes out with a bit of news, the price probably won't crash, but fast money will go into other Bitcoin opportunities that have more juice in them.
Thats how it looks to me.
Imperial Whazoo
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