Good day Hiveians!
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Let's look at HIVE/BTC at the macro scale
In my last post about this pair I hinted at a silver lining. While Hive has been down reltive to BTC by about 80% since it's ATH, the chart pattern suggests to me that a reversal is now starting. This all has to do with the dominant 3 wave pattern seen at all scales in this pair. And the 3rd wave seems to be completed now with the candles closing below the summer lows. I posted this chart in my last update and expected a reversal to happen shortly:
If this week finishes at current levels, this would be the 2nd week closing in green, thereby hinting at a possible trend reversal. But let's first cover the basics. We can see the 3 wave pattern as shown in the chart, but it is also visible in the impulse wave leading up to the ATH.
Now the idea is that the pattern beginning in 2021 and ending currently is the first wave of 3 subwaves taking us all the way up to the target line. The other idea is that the 1-2-3 movement in 2021 will be the fractal for the 1-2-3 movement from 2021 to 2025. You can see it highlighted here:
We can now think of this 1-2-3 movement of 2021 as the subwave to the larger one starting in 2021 and ending in around 2025. If we do that we get hints at how this second and third subwave will look:
I would expect the 3nd subwave to reach to around the peak of the first wave since this is suggested in the previously highlighted area. This would be a smaller wave followed by a third and final wave which would be bigger and taking us to the target zone at around 0.00033. If so, this would be around a 30x from current levels. This might first seem much, but it is not quite as large as you might think for the following reason. This chart is only showing the ratio to BTC and we can expect BTC to make around a 8-10x at the end of 2025 (this is probably the high end range). This would mean that Hive's price could be at around a 20x form current levels. A 20x puts Hive at around $6 which is actually not that much considering that Hive's previous ATH was at around $3.4. A doubling of Hive's ATH seems rather conservative which is why I think these numbers could be quite reasonable.
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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