Crypto Analysis | HIVE/BTC Chart - Something Big About To Happpen!

Good day Hiveians!

Join me in analyzing the crypto markets!

 

The HIVE/BTC Chart looks spectacular!

Spectacular in the sense that something big is about to happen. Not guaranteed positive (if you are a Hive hodler), but I think the chances are greater for a breakout to the top. Let us have a detailed look.

First the chart by itself:

To the untrained eye this might not look like much. But this changes quickly when we add some basic trend lines.

These are the most basic lines we can draw and they reveal a lot! First, price has recovered spectacularly after the big fall in 2020. Since 2022 it has rather flat lined (although there was some extreme volatility seen in the wicks). Price has also failed to breakout of the resistance to the top, but also stayed above the horizontal support. The other support seen under it is much weaker as it has not been established yet.

The 3s

There is another thing not obvious in the chart: the 3 wave pattern. It is one of the few charts I have charted where the 3 wave pattern is as salient as it is here. Have a look:

This pattern is even more visible on the daily chart. I highly suggest that you have a look for yourself. But here we can see that the 3 wave pattern is coming to an end which suggests a new move in either direction starting a new 3 wave pattern.

The significance

Combining both insights reveals something potentially spectacular: It looks as if there is going to be a big breakout! Now of course we want to know: up or down?! You have to answer this for yourself, but I will argue for the upside.

We can see that the 3 wave pattern is now coming to an end which suggests a big movement either way. We have now essentially touched the upper resistance more than a dozen times (on the weekly chart!) and are "stuck" in a sideways moving wedge with the strong horizontal support. This support has held so far all through the bear market. We are now again at "absolute" lows and should in the next days/weeks significantly break out to the upside (imo).

Looking at the bigger picture it suggests to me something like this:

There is a really good chance that this is a start to a macro 3 wave pattern which will build up to the 2025 crypto market cycle top. It also looks reasonable as the absolute increase to the "3" in 2025 is "only" about a 3k% up. This is of course relative to BTC. But since we can only expect about a 10x for BTC for this bull cylce this would fit in quite nicely.

If so, then the talked about rally for Hive should continue (as it is doing) and will probably continue to do so until at least summer or perhaps winter of this year.

 

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As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!

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