Uh hype is um a speculative. So hype hype is interesting me in crypto because it is not very well correlated to Bitcoin. You know in this region where um hype showed a very strong uptrend.
Bitcoin again has been in you know Feb started its range in February and basically you can imagine Bitcoin I in fact we can put Bitcoin on here and see that lack of correlation which is um which is interesting.
So we can see the February, you know, basically Bitcoin started this long range it has and you can see that um hype during that time um has been a strong uptrend but since then it's pulled back a little bit.
So not very well correlated to Bitcoin. We don't know if it'll stay that way but that's handy, right? If we we're shorting Bitcoin, we find reasons to long this one it gets interesting.
Now right now I see hype see let me make sure. Yeah. So I see hype getting to 110 as long as it holds 49. Um, if it holds, if it breaks 49, it's likely to seek the bottom of its uh the the bottom of the 226 range, which is around 20 and possibly as low as nine.
So, be careful with it. Um, but as long as it's over 40, 49, it should head to 100. And now, what's interesting shortterm is that we've seen um uh a move off the low and now it's consolidating.
You can see how the VWAPS briefly went flat, okay? And now they're starting to turn up into a slope. and even some of the local um structures are looking bullish. This is not clean.
I think at best what we're looking at is well I see the whole thing as a diagonal. So it would be an Awave. It can be ABC like this with a larger um uh A this way. Okay. Um larger degree Awave that way.
Or it's possible that this um it's possible this move off the low ends up being a leading diagonal in this circle A and it ends up closer to 68. So, I don't know exactly how this low is forming if it continues to form.
Um, but as of right now, I wanted to stay under these VW ops. And again, what are these VWOPS? It's just basically me measuring primarily the low the low is important because this is the one that is starting to form the uptrend.
Um, I was just measuring um I was measuring against the more sensitive VWAP against this uh high here. And you can see that one is starting to loop up as well. So, uh, as long as it stays over this set, um, and I've got a stop, I think, down here around 53 because that would that would pierce the VWOPS and then and then, uh, and then break the uptrend as well.
So, that I care more about that low here. Um, I I I expect it to continue up. So, that's that's nice to have a convenient long while everything else in, um, crypto right now seems to be rolling over or more mo most things.
