There's been a lot of expectations buzzing on social media concerning the next bull run, massive pumps and dumps on the road to a new All Time High. Most of these talks focus more on #BTC and other Alts. But recently I found something interesting on Twitter. One of those amazing people on twitter who I follow ( @edicted) and respect kept talking about this golden cross and I couldn't resist but to look at it. In this post. I'll talk about what I found- my fears and what excites me. It's up to you to do whatever you like in the end. This is not a financial advise. Do your own research before you YOLO your cash. Thank you.
- What Excites me
In this chart, the cross that you're seeing is a cross between the 50days Moving average and the 100days moving average. Which is major seeing that #Hive has just few past information on the charts. We forked out from #STEEM less than 3yrs ago( February-March 2020). The first time we had this cross on #Hive was Wednesday January 27 2021
What followed were massive god candles. Busting from around 12 Cents to way above $1. Even the Stochastic RSI on the daily chart looks very identical with today's chart.
The question is, will History repeat itself? If it does, then there's nothing stopping #HIVE from reaching at least $2.6 before Christmas.
- My fears
Like every other cryptocurrency out there, everything follows #BTC. It dictates every move for Alts. I made a concise post about the critical position BTC is in at the moment here.,
Also on larger timeframe, there are other concerning issues. One of which is this
Weekly Stochastic RSI shows we're losing momentum. We might see a significant dip soon. Perhaps to our resistance level at 36-38 cents. Which is a healthy馃檪 move looking at the potential if this pumps in the end as expected.
In conclusion... If #BTC doesn't mess things up this week or next. We might be in for a massive recovery. With regarding #BTC messing up, I'm 57% sure it won't. This is not financial advise. Just sticking to the facts in the chart. Do have a great week ahead. I'll catch you on the next one.