Good day Hiveians!
Join me in analyzing the crypto markets!
Korean whales are hungry again
The pump started at 00:00 UTC as always. But this pump is on another league - in fact, the last time we saw a pump (and dump) like this was in 2021 when Hive entered it's bull mode for a year.
So far, there is nothing unusal about how price has moved: a pump (with higher second peak) and the usual dump back down. So far, we haven't gone back to the base of the pump, but history suggests we'll revisit 20 cents 🙄. But, the unusal part of this is the sheer volume: almost 2B Hive traded in a single day! That blows my mind. It's even crazier to realize that this is over half a billion $!!! Hive isn't playing small fish anymore.
I have nailed Hive for the past 6 months
I don't want to make this a big deal, but it kinda is :) Never before have I made such an accurate prediction about anything really. In June I made this prediction:
Does that look familiar?
Well if it does it's because Hive has followed this path to the letter so far. Here is the current chart:
Okay, I admit, I widened the base by a couple of weeks... but besides that 🤯
Just to give you a reference how big of an event this is
...and why this will probably usher in an event like 2021 when hive went from ~10 cents to $3.4.
Here is the volume spike on Upbit in relation to 2021:
Yeah, it is that big!
The craziest candle had 2.2B and concluded the first peak of the run up to the ATH. But the chart seems to suggest that price is just getting started. For the first wave up we can expect something like this:
Important resistances to keep in mind are the red lines indicated in the chart at 30 and 45 cents.
Conclusion
Today was fun! Sure it hurts to see the dump that always follows, but if it is anything like 2021, this will just be the start of a one year long bull run!
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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Check out the Love The Clouds Community if you share the love for clouds!
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