This is not a drill
Bitcoin just hit all time highs and bears are actively trying to short it. They are going to get wrecked (just like they always do at some point or another). Hive is prepped to spike to 34 within the week, and the alt-market cometh.
Looking good...
Over the next 48 hours we'll be actively golden crossing the MA(50) with the MA(200). Interesting thing about that is the speed in which it happened. It's difficult to cross an average that's been steadily going up for over a year straight (with a little break during the $58k crab). This golden cross is a largely insignificant one, but seems relevant considering all the other mechanics in play.
The MA(25), on the other hand, is looking wildly bullish. Just today we creeped over the $100k line with the 25 daily moving average, which is something that's only happened once before, denoted by the lavender boxes. Notice how back then in January it didn't pop above $100k until the price action was in complete struggle-bus breakdown mode, whereas this time around we see nothing but strength and a steeper angle to cut through the toxic laser-eyed unit-bias level that is $100k.
Also notice that none of the action we are seeing now is parabolic. We've just kind of been reclaiming lost territory in a straight line for a while. We find ourselves in the middle of the gradual trendline with the current trendline being even steeper than the gradual one from before. Something has to give in this regard. Either we break to the upside and start going parabolic... or the new trendline will fade away into the old one for a more gradual accent. I'm leaning toward a parabolic summer rally considering everything I've seen for the last 6 months, but either one would obviously be fine... in fact less volatility is likely preferred as we wouldn't have to frantically guess the peak of a blow-off top volcano.
Hive
I don't usually do TA on Hive but at this point the charts are just looking too good and I have active bets going in the upward direction. The USD chart shows a potential reverse head and shoulders, which is one of the most bullish indicators out there. In order to complete this pattern we'll need to spike up to 34 cents within a week or two. Could be due for some excitement.
Another thing that looks amazing from the Hive chart is that the MA(200) is still sloped in an upward direction and the MA(25/100) golden cross is pretty much locked in. If we can maintain around 25-26 cents the MA(25) will basically go up for 12 days straight and the golden cross will automatically happen. 25/100 crosses are the most important ones so things are looking up for Hive, while the MA(50) provides excellent support at 24.3 cents... if we crash to the MA(50) I'll make my bullish bets even more aggressive.
The HIVE/BTC chart looks completely bottomed out.
240 sats for 1 Hive. Mindblowing really. This is the seventh time we've been at this level which really solidifies the rock-bottom territory (in conjunction with ~300 sats being the low four years ago). Anyone with extra Bitcoin who's bullish on Hive... now is as good a time as any to start rotating into the network in size.
Could it make a new low? Sure. Chance of that happening are pretty high I would say. A new HIVE/BTC low can happen even if both numbers are going up in terms of USD. Hive can still underperform, especially if BTC is mooning. I don't think it will happen and I'm also not worried if it does happen. Should Hive get into the 200-225 sats range I'll personally be going all in with what I have left. This market rewards blind faith at times like these. This is one of those moments where you just need to lock in and deal with the stress (or 'simply' ignore the charts for a couple months).
https://x.com/BTC_Archive/status/1925207949355446464
Rank #5
I guarantee that Bitcoin hits the #2 spot by the end of this bull market. Let's tighten that speculation and say we'll get there before the end of November. Bitcoin is gonna pull an x2 no problem and baffle all the naysayers. "You just got lucky bro." Sure friend... sure. Whatever you say. This creates a flywheel of more buying as the world is already adopting grandpa coin this cycle regardless.
https://x.com/TheFocusedx/status/1924937829312036953
Bonds in trouble?
Lot's of people rehashing these old fears of complete systemic collapse of the legacy system. The thing about these predictions is the timelines are always wrong and way too sped up. The macro economy moves a hell of a lot slower than crypto. Crypto can complete the entire bull market before any of this shit happens.
In addition to that it's also just wrong a lot of the time. Anyone who tries to trade long-term based off of the CPI and FED fund rate gets wrecked. You're just waiting around for months and months while crypto moves at hyperspeed. The 4-year cycle trumps any of the other long-term analysis... and 4-year cycle says get ready for parabolic action, so get ready for parabolic action. The market ascends a wall of worry. Every time.
Lines of support
- $100k (double)
- $97k (trendline)
- $93k (consolidation + golden cross)
- $90k (MA(100) + crab trendline)
- $85k (top of the liquidity void)
- $77k (bottom of liquidity void)
- $72k (previous all time high resistance)
The chart it just littered with support.
Conclusion
Wildly bullish indicators in the field right now. At this point Hive is my #1 moonbag asset. We're due for one of those classic pumps out of nowhere. Gambling be like that: most of the time we are just bored waiting around and all the action splashes the ecosystem all at once. Blink and you miss it.
While things are looking pretty great right now... just remember that if you want to gamble this rally then taking gains at some point in June or July is going to be a requirement. September is always a bust every year without fail. Take some off the table and buy the dip.
Until then enjoy the summer rally.
It's gonna be a doozy.