Good day Hiveians!
Join me in analyzing the crypto markets!
This one has been a long time coming
For 3 years Hive has grinded lower in relation to BTC.There was seemingly no end in sight and Hive even made a new ATL this year, having dropped almost 96% to around 0.0000023. But there is change in the air. Important trend lines arebeing broken and with around 1 year left for the bull phase I am going to cal it: Hive is going to make a strong reversal.
The trend reversal was initiated by the 2B trading volume we saw last week, which I can't help myself to repeat. I honestly didn't think we would see these massive volume candles again. Since then we are seeing a break of a resistance that has kept Hive down for over a year which can be seen as the purple trend line.
This is it. This will be the start of a year long (volatile!) impulse wave. We can essentially expect something like what we saw in 2021. If we simply take the movement from back then and superimpose it on the near future, we get something like this:
This is how it would look like if we were to get the exact same price development (in relation to BTC). Interestingly, this would still mean that Hive would not breach its fromer ATH. For now, I am simply going to use this model as it seems to be located in the middle of a too bearish or too bullish scenario.
0.000031 would be a 10x and assuming BTC were to reach $400k Hive would be sitting at around $12. Realistic? I would say yes!
Conclusion
Hive's time like most Alts has come to shine. This is when we can expect massive returns over a relatively short period and we should position ourselves accordingly.
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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