But I am almost certain we are about to see another - probably massive - Hive pump. Price is now stuck in a symmetrical triangle and that generally means one thing when we are in a bull year. Numbers go up.
We have generally seen a massive breakout when we got such a chart. In 2021 we saw this happen multiple times. Here are some examples (the green arrows had higher trailing lows and the yellow ones indicate lower lows after the pump):
These pumps can be mind blowing with almost instant gains of 70%+. The main question for me is this: will the next run up be part of a continued downward or upward movement? As indicated by the yellow or green arrows, these pumps can either lead to lower lows after the pump is finished or higher lows and a much higher high.
If we see a pump, I am betting it will be big, similarly to what we saw in December of 2024. It could look something like this (with 50-55 cents being a possible top):
Hive is eager to make a big move. While lower lows are always an option, price already did an almost 65% correction from around ~70 cents that we saw some weeks ago. If we actually are in a bull year, up is almost certain. If so, I will look at how high this could possibly go (the local top) in the next post (spoiler: I already got some trend lines in the chart).
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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